Nikola Corporation Shares Plunge 55% After bankruptcy Filing
Nikola CorporatNikola Corp. (NKLA.US) has filed for bankruptcy, topping off a long slide for the erstwhile electric vehicle industry darling, which has struggled with weak sales and cycled through CEO changes in the wake of a fraud scandal.
The company’s market value peaked at $29 billion in the days close to the IPO, then fell to less than $100 million before filing for bankruptcy.
The company’s shares lost nearly 55% before the open of Wall Street regular trading session.
Historical chart of the company’s shares. Source: xStation
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