https://wccftech.com/nikola-nkla-shares-remain-in-the-spotlight-as-the-company-finally-publishes-a-rebuttal-and-wall-street-jumps-into-the-fray-with-endorsements/

Nikola Corporation (NASDAQ:NKLA) shares were expected to continue feeling the reverberations of last week’s showdown with Hindenberg Research. That prognostication appears to be panning out today as the company has published a detailed rebuttal to the allegations contained in the damning report and Wall Street has followed suit with an endorsement of Nikola’s bull case.

We had noted in our previous post that Nikola should have addressed the allegations leveled by Hindenburg Research last week. Nonetheless, after enduring a pummeling over the past couple of days, the company seems to have finally cobbled together a rational response. Bear in mind that Hindenburg’s attack featured two main volleys. The first asserted that Nikola, contrary to its public claims, does not possess any revolutionary or proprietary technology concerning batteries and hydrogen fuel cells, as illustrated by the fact that it is utilizing GM’s under-development Ultium battery system and Hydrotec fuel cell technology for the Badger pickup truck. The second allegation alluded to Nikola’s supposed proclivity of employing deliberate deception as modus operandi. Today, Nikola has tried to address both of these issues.