Why Nikola Stock Crashed 10% This Morning
NKLANikola(NKLA) The Motley Fool·2024-08-19 23:02

Nikola is raising cash and diluting shareholders. It isn't the first time. It won't be the last. Nikola Corporation (NKLA -9.22%) stock tumbled 10% in early trading Monday before recovering a bit. The fuel cell-powered truckmaker filed a form S-3 with the Securities and Exchange Commission (SEC) this morning, describing its plan to raise $500 million through issuances of new debt, convertible debt, and shares in the company. Investors don't seem thrilled with the idea, however, and as of 10:10 a.m. ET, Niko ...