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