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Nikola's Stock Is Slumping. Its Board Made a Grim Decision.

TheMotleyFool

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Nikola's Stock Is Slumping. Its Board Made a Grim Decision.: https://g.foolcdn.com/editorial/images/781187/230913_nikola_tre_fcev-scaled.jpeg

Shares of electric truck maker Nikola (NASDAQ: NKLA) were trading sharply lower on Thursday morning, after the company said in a regulatory filing that that it will conduct a 1-for-30 reverse stock split next week.

As of 10:30 a.m. ET, Nikola's shares were down about 23.3% from Wednesday's closing price.

EV truck maker Nikola is planning a 1-for-30 reverse stock split next week. Image source: Nikola.

Source Fool.com

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