Nikola's founder Trevor Milton quits amid graft claims; shares dip

The resignation marks a remarkable fall from grace for Milton, a 39-year-old college dropout whose fortune soared when he took Nikola public through a reverse merger in June

Nikola’s founder Trevor Milton (pictured) has left the company in the wake of regulatory probes and a short seller’s allegations that the electric-truck startup misled investors, sending shares plunging.
 
Milton stepped down as executive chairman effective immediately and was replaced by Stephen Girsky, the former General Motors Co. vice chairman who oversaw Nikola’s stock listing and helped broker a partnership with GM. Nikola’s shares — already reeling from claims leveled by short seller Hindenburg Research that US regulators are investigating — fell as much as 27.65 per cent as of 9:45 pm (IST).
 
“Nikola is truly in my