The news which is making the headlines today is that the stocks relating to a well-known company called Caterpillar Inc. had to face low trade. The company, which is an American fortune 100 corporation involved in activities of manufacturing, designing, and developing various products as well as famously known as the world’s biggest construction/engineering equipment manufacturer, has witnessed a major low today where its shares were traded for 0.02%.
The company is also well-known for providing energy and power-related services as well as locomotives, and shares a fair bit of piece within the heavy equipment global market where it holds over 13% of the overall market share. The company was said to have followed the footsteps of Tesla which had last month announced a stock split i.e. 1 for 5. For the time being the shares of Caterpillar are trading low @ 2.83% equivalent to US$ 149.16 on Tuesday.
On the other hand, a similar problem is also being faced by an electric truck start-up known as Nikola which too could not able to see an upward trending in today’s stock market, and instead, the trade of its stock remained very low approximately up to 6.2% till noon today. However, in the later hours of the day, the status quo did not however change and the stocks were traded low again.
According to reports it has been suggested that the stocks of the company have gone down to at least 21% after various allegations have been leveled by short-sellers and the allegations went viral amongst the public. However, the Securities & Exchange Commission has informed that they are looking into the matter and will take up each claim lodged against the company individually. According to credible sources, the allegations that have been leveled against Nikola are that Nikola is nothing but a fraud. The SEC also reported to have said that it is in the custody of evidence that points out that the allegations are true.
However, the news regarding Nikola being a fraud has adversely affected the value of its stocks otherwise the prices were on the up.
