Nikola shares were down 3.5% in premarket trading while Lordstown was trading 4.8% lower, adding to declines of roughly 50% from their highs this year amid concern about the electric truck makers' ability to delivery on technology, as well as worries about rising yields and valuation.
Nikola said on Wednesday that South Korea's Hanwha Corp has decided to sell up to half of its stake in the company.