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Nikola ( (NKLA) ) just unveiled an update.
On February 19, 2025, Nikola Corporation filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, aiming for a structured sale of its assets. Despite its efforts to overcome market and macroeconomic challenges, the company is pursuing this path to maximize asset value, maintain limited operations, and potentially wind down its business. The filing accelerates certain debt obligations and initiates a retention bonus program for key employees. Nikola holds approximately $47 million in cash to support operations during the sale process, and the outcome could significantly impact securityholders.
More about Nikola
Nikola Corporation is a global leader in zero-emissions transportation and energy solutions, focusing on Class 8 battery-electric and hydrogen fuel cell electric trucks. Through its HYLA brand, Nikola is advancing a comprehensive hydrogen refueling ecosystem, including supply, distribution, and dispensing. The company is headquartered in Phoenix, Arizona, with a manufacturing facility in Coolidge, Arizona.
YTD Price Performance: -58.06%
Average Trading Volume: 15,887,016
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $45.74M
For a thorough assessment of NKLA stock, go to TipRanks’ Stock Analysis page.
