Posted on

Electric truck maker Nikola at risk of being delisted from Nasdaq


Nikola, the beleaguered electric truck developer, is at risk of being delisted from Nasdaq, the company disclosed Thursday in a regulatory filing.
Nikola said that on May 24 it received a delisting notice from the public exchange because its share price has been below $1 for the past 30 days. The company has until November 20 to comply with Nasdaq’s minimum price rule, which requires the share price to be above $1 for 10 consecutive business days.
Nikola shares were as high as $65.90 in 2020 when the buzzy SPAC was being led by Trevor Milton, the company’s co-founder and former CEO, who has been indicted on federal securities fraud. Shares have since fallen 20% to $0.62.
Nikola is among a growing number of companies that went publi …

Read More