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Shares in Italy's CNH down 6.2% after Nikola founder steps down

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09/21/2020 | 06:16am EDT
The truck and tractor maker CNH Industrial NV releases Q4 and FY results

Italy's CNH was one of the top losers on Milan's bourse on Monday, its shares down over 6% in early trade, after the founder of U.S. electric truck maker Nikola Corp's stepped down as executive chairman, a trader said.

"The news of Nikola's Trevor Milton stepping down is bringing (CNH) stock down," a Milan-based trader told Reuters.

CNH Industrial owns 7.1% of Nikola Corp.'s share capital.

Nikola said on Sunday Milton was leaving as the company is battling allegations from a short-seller that it misled investors and automakers. The group rejected the accusations and threatened to take legal action.

(Reporting by Giancarlo Navach, editing by Giulia Segreti)


Stocks mentioned in the article
ChangeLast1st jan.
CNH INDUSTRIAL N.V. -0.13% 7.77 Delayed Quote.-29.36%
NIKOLA CORPORATION -7.48% 18.31 Delayed Quote.77.42%
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