Shares of electric-semi start-up Nikola (NASDAQ: NKLA) were trading lower on Wednesday on dilution concerns after the company announced a plan to redeem its publicly traded warrants by issuing millions of new shares.
At 1:30 p.m. EDT, Nikola's shares were trading at $37.21, down about 6.4% from Tuesday's closing price.
Nikola plans to begin building its electric semi trucks next year. Image source: Nikola.
Source Fool.com