Nikola Says There Is Substantial Doubt About The Co's Ability To Continue As A Going Concern; As Of March 31, Anticipate That Capital Expenditures For Remainder Of FY24 Will Be ~$90M
Portfolio Pulse from Benzinga Newsdesk
Nikola Corp has expressed substantial doubt about its ability to continue as a going concern, citing anticipated capital expenditures of approximately $90M for the remainder of FY24, as revealed in a conference call.
May 07, 2024 | 3:51 pm
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Nikola Corp has raised concerns over its future viability, with significant capital expenditures expected, casting doubt on its operational sustainability.
The announcement by Nikola Corp regarding its substantial doubt about continuing as a going concern directly impacts investor confidence and could lead to a decrease in stock price. The anticipated capital expenditures of approximately $90M for the remainder of FY24 highlight financial challenges that the company faces, which could deter investment and negatively affect the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100