This replaces an earlier item that mistakenly reported the company that filed the share offering by stockholders. It has been corrected
Share of Nikola Corp. NKLA, -2.12% shed 2.7% in morning trading Friday, after the electric vehicle maker disclosed the offering of 1.68 million shares by selling stockholders. In and S-1 filing with the Securities and Exchange Commission late Thursday, Quasar Energy Partners LLC, Philipp Brothers Fertilizer LLC and Little Brothers LLC are selling off their entire stakes in Nio, totaling 1,682,267 shares, representing 0.4% of the shares outstanding and valued at $77.5 million at Thursday’s closing price of $46.07. The company said it will not receive any proceeds from the offering. The stock has lost 9.7% year to date, while shares of EV leader Tesla Inc. TSLA, -1.28% have declined 8.8%, and the S&P 500 SPX, +0.49% has gained 16.7%.
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