Nikola bulls may be entering a 'white knuckle period' after Milton's resignation: Wedbush's Dan Ives

Trevor Milton, the founder of electric truck company Nikola, is voluntarily stepping down as executive chairman and giving up his board seat. The move comes after short-seller Hindenburg Research accused Milton of making false statements about Nikola's technology in order to grow and secure partnerships with automakers. Dan Ives, managing director at Wedbush Securities, joins "Squawk Box" to discuss.