Author: Vitaliy Dadalyan

Nikola Held Talks with BP on Hydrogen Fuel Network

(Bloomberg) -- Nikola Corp. was in advanced talks with BP Plc over a partnership to build hydrogen fuel stations shortly before a short-seller report raised allegations about the startup’s credibility and capabilities, according to people familiar with the matter.The companies had an agreement in principle to collaborate on the project for a hydrogen fuel network, which would undergird a plan by Nikola to lease fuel cell-powered trucks, the people said, asking not to be identified discussing private information.Nikola hoped to announce the deal with the oil major just days after publicizing a separate partnership with General Motors Co. to make a battery-powered pickup truck, one of the people said. Representatives for BP and Nikola declined to comment.Shares of Nikola fell by as much as 20% on Wednesday. They were down 19% to $22.96 as of 2:21 p.m. in New York -- well below its price after going public in June through...

Aurora Sinks to 4-Year Low, Told to ‘Stop Growing So Much Weed’

(Bloomberg) -- Aurora Cannabis Inc. shares tumbled to the lowest price in four years after its fourth-quarter results prompted an MKM Partners analyst to tell the company, “Please stop growing so much weed.”Shares fell as much as 25% in Toronto trading, the biggest drop in six months, to the lowest level since 2016 when Canada was still two years away from legalizing recreational marijuana use. The results dragged other Canadian pot stocks lower, with Tilray Inc. down as much as 9.6%, Canopy Growth Corp. losing 9% and Cronos Group Inc. falling 4.7%.Aurora reported net revenue of C$72.1 million Tuesday, missing the C$73.3 million consensus estimate. Its loss before interest, taxes, depreciation and amortization was C$34.6 million, wider than the C$22 million projected loss.Management said it now expects to report positive Ebitda in the second quarter of fiscal 2021, about 1 1/2 years later than it originally predicted. Analysts don’t share the...