Nikola stock price is down 63% since November. Here’s why

Shares of Nikola Corp (NASDAQ: NKLA) slipped more than 8.5% on Thursday hit the lowest levels recorded in seven months after the electric truck maker abandoned the deal with Republic Services to make electric garbage trucks for the solid waste collection company. Fundamental analysis: Order cancelled Nikola faced a number of challenges this year, particularly after short sellers accused the electric truck maker of fraud three months ago, after which its founder Trevor Milton left the company.  In the announcement, the truckmaker said the previous order of 2,500 electric garbage trucks for Republic Services has been called off.  “This was