Nikola Corp said on Thursday Nasdaq gave the electric truck maker a delisting notice for not meeting its minimum bid price requirements.
Shares of the company were down 5% at 73 cents. They fell about 78% last year on high battery material costs and production concerns.
Nikola has been trying to raise cash for operations by selling equity, like other electric vehicle (EV) firms, in a turbulent market, and on Wednesday urged shareholders to vote in favor of increasing the number of shares at its annual shareholder meeting next month.
EV startup Lordstown Motors Corp last month received a similar notice and effected a reverse stock split this week to meet the exchange’s rules.
Earlier this month, Nikola said it would pause production to streamline the assembly line at its Coolidge, Arizona factory amid sluggish demand for its battery-powered trucks.
Safe government bonds enjoy a discount known as the convenience yield. When a government issues…
The most important urban decisions of this century are being made right now, mostly in…
We are living through two megatrends humanity has never seen before. The first is aging.…
For decades, foreign direct investment (FDI) was seen as the primary engine of development finance.…
The rapid diffusion of generative AI has revived fears that a new wave of automation…
Academic freedom has been declining over the past decade across the world. This column analyses…