Written by Cláudio Afonso | LinkedIn | X
SG Americas, the U.S. broker-dealer subsidiary of France’s third-largest listed bank Société Générale, has sold its stake in the electric vehicle (EV) maker Nikola. The fund bought the first shares in the company four years ago, shortly after Nikola‘s initial public offering (IPO) in June 2020.
During the second quarter, SG Americas increased its position in the Shanghai-based EV maker Nio to 2.22 million shares.
As revealed in a SEC filing, SG Americas owned over 3.8 million shares — the highest amount ever — as of the end of the first quarter after buying 1.8 million shares in the first three months of the year.
In mid-2022, the fund has nearly sold its entire position (from 618,000 shares to 70,500), however, it increased to over 1 million shares in the following quarter.
As of today, the company has a total of 395 institutional shareholders holding more than 337 million shares with the Vanguard Group and BlackRock Inc. being among the largest shareholders.
Earlier this year, institutional ownership reached a new record high with institutions holding more than 450 million shares, according to data from Fintel.
Fidelity’s Small Cap Index Fund has recently filed a new form revealing that it has increased its stake in Nikola by 16.50% as it acquired 1,038,350 shares in April.
Nikola is seeking more deals to supply its electric trucks. Wayfair is testing Nikola’s trucks in California, according to Anna Vinogradova, Head of Global Sustainability and ESG at Wayfair.
“Wayfair is piloting heavy-duty EV trucks with WattEV, Inc. in California. We’re testing these vehicles for more sustainable middle-mile deliveries and evaluating the operational impacts of switching from diesel to electric trucks,” Vinogradova said.
Last week, Nikola announced that Walmart Canada has integrated the first Nikola hydrogen fuel cell electric semi-truck into its fleet. Walmart Canada is the first retail fleet in North America to operate a hydrogen fuel cell electric truck.
In a new interview for the “Future Says” podcast, Nikola’s Global Head of Supply Chain Management, Pedro Garcia, anticipated that additional safety regulations will be implemented, necessitating industry-wide compliance and adaptation.
Written by Cláudio Afonso | LinkedIn | X
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