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BREAKING: EV Truck Maker Nikola Files For Chapter 11 Bankruptcy

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FreightCaviar

February 19, 2025

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BREAKING: EV Truck Maker Nikola Files For Chapter 11 Bankruptcy

Shares of Nikola $NLKA plummeted 40% today as the company filed for Chapter 11 bankruptcy.

At one point, Nikola was valued at $30 billion and considered the future of EV Trucking.

Lack of revenue growth and a series of scandals entangled the company in a free fall that failed to secure it a buyer.

Steve Girsky, CEO of Nikola, said, “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,”

4.5 years ago in June of 2020 the stock traded at $1977. Today it sits at $.45, a 99% decline.

Nikola plans to auction off its assets once the court approves them.

FreightCaviar did a deeper report on Nikola at the end of January. Read more by clicking here.

🎣 Rise & Fall of Nikola
Nikola, the EV semi-truck maker once worth more than Ford, is now running out of cash. Can it survive?
BREAKING: EV Truck Maker Nikola Files For Chapter 11 BankruptcyFreightCaviarPaul-Bernard Jaroslawski

Fuente: https://www.freightcaviar.com/ev-truck-maker-nikola-files-for-chapter-11-bankruptcy-2/

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