EV maker Nikola files for bankruptcy protection
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Electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection, indicating financial distress. The company previously stated it had enough cash to operate until Q1 2025.
February 19, 2025 | 1:30 pm
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Nikola has filed for Chapter 11 bankruptcy protection, signaling severe financial difficulties. This development is critical for investors as it indicates potential restructuring or liquidation.
The filing for Chapter 11 bankruptcy protection by Nikola is a significant event, indicating the company is in financial distress and may undergo restructuring. This is likely to negatively impact the stock price in the short term as investors react to the uncertainty surrounding the company's future.
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