Nikola stock falls after shareholders file to sell off their stakes

This replaces an earlier point that mistakenly reported the institution that filed the stock offering by stockholders. It has been corrected

Share of Nikola Corp. NKLA, -3.53% shed 2.7% successful greeting trading Friday, aft the electrical conveyance shaper disclosed the offering of 1.68 cardinal shares by selling stockholders. In and S-1 filing with the Securities and Exchange Commission precocious Thursday, Quasar Energy Partners LLC, Philipp Brothers Fertilizer LLC and Little Brothers LLC are selling disconnected their full stakes successful Nio, totaling 1,682,267 shares, representing 0.4% of the shares outstanding and valued astatine $77.5 cardinal astatine Thursday's closing terms of $46.07. The institution said it volition not person immoderate proceeds from the offering. The banal has mislaid 9.7% twelvemonth to date, portion shares of EV person Tesla Inc. TSLA, -1.68% person declined 8.8%, and the S&P 500 SPX, +0.66% has gained 16.7%.