Nikola Stock Is Up 8%: What's Going On?
Portfolio Pulse from Henry Khederian
Nikola Corp's shares are trading higher by 8.2% after a recent slump. The company announced a registered direct offering of senior convertible notes worth up to $325 million, expecting net proceeds of around $124.5 million. However, the stock is down 21.6% over the past five sessions and 35% over the past month due to a voluntary recall of over 200 vehicles following a nearby fire.
August 25, 2023 | 3:58 pm
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Nikola Corp's stock is rebounding after a recent slump, trading higher by 8.2%. The company's recent announcement of a direct offering of senior convertible notes and a vehicle recall have impacted the stock's performance.
Nikola Corp's stock is rebounding, which is a positive sign for investors. However, the company's recent announcement of a direct offering of senior convertible notes and a vehicle recall have caused the stock to slump in the past sessions. The offering is expected to bring in net proceeds of around $124.5 million, which could be used for the company's operations and growth. The vehicle recall, on the other hand, has negatively impacted the stock's performance.
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