What's Going On With Nikola Stock Tuesday?
Portfolio Pulse from Adam Eckert
Nikola Corp (NASDAQ:NKLA) has been awarded $165 million in arbitration from its founder, Trevor Milton. The award is related to costs and damages from previous actions that led to regulatory investigations and an SEC settlement related to fraud. Nikola is also planning to seek reimbursement for attorney fees. The company is set to report its Q3 financial results on Nov. 2, with an expected loss of 15 cents per share and revenue of $15.024 million. Nikola shares are up 18.4% at $1.13.
October 24, 2023 | 2:51 pm
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Nikola Corp has been awarded $165 million in arbitration from its founder, which could help offset costs and damages from previous regulatory issues. The company's shares are up 18.4%.
The arbitration award of $165 million is a significant financial boost for Nikola, which could help offset costs and damages from previous regulatory issues. This news is likely to be viewed positively by investors, hence the increase in the company's share price.
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