Tesla rival Nikola founder president fraud charges resigns - Electric Vehicle Company Nikola announced Monday that its founder and CEO, Trevor Milton, leaves the post days after Hindenburg Research accused them of fraud.

Former vice-president of General Motors and Nikola board member Stephen Girsky will take his place at the company.

Milton States in a tweet that "the company is in good hands" and that, " when you build a team, you are the least important."

"The focus should be on the company and its global mission, not on me. I intend to defend myself against false allegations from outside detractors, " Milton says in the tweet.

This decision comes after Hidenburg Research published a report accusing the company of being a "complex fraud built on dozens of lies throughout the career of its founder and CEO, Trevor Milton."

Tesla rival Nikola founder president fraud charges resigns

Nikola has defended himself and maintains that there are inaccurate allegations in that report. He now faces an investigation by the U.S. Securities Commission (SEC) and the Department of justice for possible irregularities.

We will have to wait to see how the markets welcome this decision. This year the company has been very volatile: from 13 dollars (11 euros) per title in early May, rose to 93.99 (79.41 euros) in June and closed on Friday at 34.19 dollars (28.88 euros).

Nikola CEO Mark Russell says the company remains committed to its objectives and to creating shareholder value.

"Our priorities have not changed and, together with our partners, we focus on implementing our strategic initiatives and laying the groundwork for becoming a vertically integrated zero-emission transportation solution provider," Russell says in statements collected by CNBC.

End of the article Tesla rival Nikola founder president fraud charges resigns


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Amazon warns of possible delays in the delivery of PS5 in the flood of orders

A few moments after Sony announced the release date of the Play Station 5, online retailers such as Amazon and other providers such as Fnac, game or MediaMarkt made available to users a presale option to ensure that they will have the console available next November 19.

The flood of orders was instant and availability soon ran out. So much so, that Jeff Bezos's company has wanted to prevent possible complaints from its consumers by warning via an email that Amazon could delay the delivery of PS5 due to high demand.

"We are contacting you about your order for PlayStation 5 to inform you in advance that you may not receive this item on the day of its release due to high demand," you can read in the email sent to those who have already purchased the PS5. "We will do our best to deliver the item to you as soon as possible once it is available."

In this situation, the buyer can choose to cancel the order and try his luck in another establishment. Although if any provider has more chances to acquire a new shipment of PS5 before the rest that is Amazon.

According to Sony, they expect to distribute 120 million PS5 units over the next 5 years and 10 million will be in 2020.

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