By Dhirendra Tripathi – Nikola stock (NASDAQ:NKLA) fell 5% Tuesday as the company reported deeper losses for the second quarter even as it promised to deliver pre-series Nikola Tre battery-electric vehicles for use on public roads in the current half.

The company’s second-quarter net loss came at $143.23 million, more than the $115.78 million reported in the same period a year ago.

Adjusted net loss per diluted share was 20 cents compared to a loss of 16 cents in last year’s quarter. The per-share result was better than analysts’ expectation of a loss of 30 cents.

The earnings announcement came five days after the U.S. Department of Justice announced the indictment of Nikola founder Trevor Milton for making false and misleading statements to investors.

The company said Milton resigned from Nikola on September 20 last year and has not been involved in its operations or communications since that time.

The Justice Department alleges that from November 2019 through September 2020, Milton schemed to defraud investors into buying his company stock through statements about its product launches and technology developments.

Milton has previously denied the allegations.

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