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 …
