EV Startup Nikola's stock plummets 38% after bankruptcy filing
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Nikola Corporation, an electric vehicle startup, has filed for Chapter 11 bankruptcy after failing to secure a buyer or additional funds. The company plans to sell its assets under Section 363 of the U.S. Bankruptcy Code.
February 19, 2025 | 9:30 pm
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Nikola Corporation's stock plummeted 38% following its Chapter 11 bankruptcy filing. The company will pursue a structured sale of its assets.
The bankruptcy filing and subsequent asset sale indicate severe financial distress, leading to a significant drop in stock price. Investors are likely to react negatively due to the uncertainty surrounding the company's future.
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