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Nikola’s stock crashes after announcing cancelation of contract with Republic Services for 2,500 garbage trucks

The undoing of Nikola continues. Today, the company announced the termination of its contract with Republic Services for 2,500 garbage trucks. Announced back in August, the deal had Nikola building garbage trucks in 2023 with on-road testing scheduled for 2024. This is the latest deal to unravel for Nikola as it tries to patch up following recent devastating reports.
According to Nikola, the separation of the two companies was mutual, though it’s hard to picture Nikola’s SEC troubles didn’t weigh heavily upon Republic Services.
“This was the right decision for both companies given the resources and investments required,” Nikola CEO …

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