Nikola (NKLA) Stock Plunges After Enacting Reverse Split
NKLANikola(NKLA) Investor Place·2024-06-26 02:27

Beleaguered electric vehicle (EV) manufacturer Nikola (NASDAQ:NKLA) found itself in the news for the wrong reasons. On June 20, the company announced that its board of directors unanimously approved a reverse split of NKLA stock at a 1-for-30 ratio. It was supposed to take effect following the close of business Monday, with shares trading on a post-reverse-split basis today. Unfortunately for NKLA stock stakeholders, industry publication EV reported that Nasdaq exchange operators halted trading of the equit ...