Nikola (NASDAQ: NKLA) executed a 1-for-30 reverse stock split on June 25. That unusual move was aimed at preventing the electric semi-truck maker's stock from being delisted from the for slipping below the $1 limit.

Nikola's stock now trades at about $9 but is still far below its split-adjusted high of $2,391.90 on June 9, 2020. Should investors buy this out-of-favor electric-vehicle (EV) stock while it's below $10 or invest in one of its better-run industry peers instead?

Image source: Nikola.

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Source Fool.com