What's Going On With EV-Maker Nikola's Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation (NASDAQ:NKLA) shares are trading slightly higher after shareholders approved all proposals at the Annual Meeting, including a reverse stock split. However, the company faces challenges as former CEO Trevor Milton filed a multi-billion dollar derivative lawsuit against the current chief legal officer and directors.
June 10, 2024 | 4:52 pm
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Nikola Corporation's stock is experiencing slight gains after shareholders approved all proposals at the Annual Meeting, including a reverse stock split. However, the company faces significant legal challenges as former CEO Trevor Milton has filed a multi-billion dollar derivative lawsuit against the current chief legal officer and directors.
The approval of all proposals, including a reverse stock split, is a positive development for Nikola, leading to a slight increase in stock price. However, the multi-billion dollar lawsuit filed by former CEO Trevor Milton introduces significant legal risks, which could offset the positive sentiment from the shareholder approvals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100