EV Truck Startup Nikola Files for Chapter 11 Bankruptcy
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Electric vehicle startup Nikola (NKLA) has filed for Chapter 11 bankruptcy and plans to auction its assets, pending court approval.
February 19, 2025 | 6:15 pm
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Nikola has filed for Chapter 11 bankruptcy and plans to auction its assets, which could significantly impact its stock price.
The filing for Chapter 11 bankruptcy indicates financial distress and potential restructuring, which typically leads to a decline in stock price. The planned auction of assets further suggests a significant change in the company's operations.
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