CEO Stephen Girsky adds 1 million NKLA shares to his portfolio despite company's struggles
Monster insider trading alert for Nikola stock
Although electric truck startup Nikola (NASDAQ: NKLA) stock has had a rough year so far, as its price continuously declined, ...
Girsky's NKLA stock purchase
Specifically, the company’s CEO Stephen Girsky bought $540,000 worth of NKLA stocks, adding up to his holdings of 7.2 million in Nikola shares, according to the recent information shared by the pseudonymous markets analyst Barchart in an X post on May 22.
Nikola stock insider trading analysis. Source: Barchart
Interestingly, this massive purchase has happened despite the stock’s poor success and as the company is struggling with the fallout of the fraud conviction of Nikola founder Trevor Milton, who refuses to stay away from the embattled hydrogen truck maker and still owns a stake in the company.
Nikola stock price analysis
Meanwhile, Nikola stock is changing hands at the price of $0.54, recording an advance of 2.07% on the day, albeit dropping 5.88% across the past week and adding up to the 14.62% decline accumulated on its monthly chart, according to the most recent data on May 22.
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