NKLA Stock Recent News

Nikola Corp (NASDAQ:NKLA) shares were down more than 38% in early trading Friday after a report from The Wall Street Journal said the hydrogen and electric truck technology company was close to filing for bankruptcy. The report, published Thursday, said Nikola was working with advisors to explore options for restructuring its debt.

Hydrogen and electric truck technology company Nikola is nearing a bankruptcy filing, according to The Wall Street Journal.

Nikola shares slump after The Wall Street Journal reports its nearing bankruptcy.

Electric truckmaker Nikola is nearing filing for a bankruptcy, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

[00:00:04] Doug McIntyre: Lee, you and I are always worried about these smaller EV companies.

The Nikola stock price has collapsed to a record low, transforming a company that was once worth $26 billion in 2020 to just $74 million. NKLA has imploded as risks of bankruptcy rise during the Donald Trump Administration.

Shares of Nikola closed Thursday down 27.8% after a report that the embattled electric truck maker is exploring options to sell parts or all of the business. Bloomberg News reported the potential sale Thursday afternoon and noted other possibilities under consideration include bringing on partners and raising new funds.

EV maker Nikola is exploring options including selling parts of its business or the entire company as it struggles with a cash crunch, Bloomberg News reported on Thursday.

Hindenburg Research, the short-selling firm known for uncovering corporate fraud, is shutting down. Founder Nate Anderson announced the decision, stating the firm had completed its final investigations, including cases recently submitted to regulators.

Remember when electric vehicles (EVs) were supposed to be the next big thing? Major automakers and tech companies invested billions of dollars in the technology.