Little Big Shorts: How tiny ‘activist’ firms became sheriffs in the stock market’s Wild West

This summer, investor Nathan Anderson got a juicy tip. The subject: Nikola Corp.  On June 4, the Phoenix-based electric-vehicle maker had gone public through a reverse merger. In a year of euphoric demand for growth stocks, particularly EV makers, this one stood out. Nikola bulls believed the company would do for hydrogen-powered, long-haul trucking what Tesla has done for electric cars.…
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