Nikola shares are trading lower after the company effected a 1-for-30 reverse stock split. The stock was halted on Monday and did not resume trading until June 25.
Portfolio Pulse from Benzinga Newsdesk
Nikola shares are trading lower after the company implemented a 1-for-30 reverse stock split. The stock was halted on Monday and resumed trading on June 25.
June 25, 2024 | 4:21 pm
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Nikola shares are experiencing a decline after the company executed a 1-for-30 reverse stock split. Trading was halted on Monday and resumed on June 25.
Reverse stock splits are often perceived negatively by investors as they can signal financial distress or efforts to meet listing requirements. The halt in trading adds to the uncertainty, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100