Electric truck maker Nikola may conduct a reverse stock split to boost the price of shares and prevent the Nasdaq from delisting the company.
Electric truck maker Nikola Corp may make a move to keep the company's shares from being delisted by the Nasdaq.in order to comply with minimum bid price requirements within a certain period, according to chief executive Michael Lohscheller.The company is dealing with mounting losses, high cash burn and sluggish demand for its battery-powered trucks.
A Nikola Corp. Tre FCEV truck following its unveiling at the IAA Transportation show in Hanover, Germany.above $1 and sends a notice if one trades below that mark for 30 consecutive business days. Companies then have a 180-day period within which the stock has to trade above $1 for at least 10 consecutive days to comply with the rules, although a second 180-day period can be granted if it meets other requirements.
Nikolas logo is pictured at an event held to present CNHs new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event."We believe we will be able to regain Nasdaq compliance and will work to ensureShares are gaining more than 2% in premarket trading. A Nikola Tre battery-electric heavy duty truck at the Nikola Corp.-Iveco SpA joint venture electric truck plant in Ulm, Germany.Ticker
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