Nikola, the beleaguered electric truck developer, is at risk of being delisted from Nasdaq, the company disclosed Thursday in a regulatory filing.
Nikola said it received May 24 a delisting notice from the public exchange because its share price has been below $1 for the past 30 days. The company has until November 20, to comply with Nasdaq’s minimum price rule, which requires the share price to be above $1 for 10 consecutive business days.
Shares fell 20% to $0.62. Nikola shares were as high as $65.90 in 2020 when the buzzy SPAC was being led by Trevor Milton, the company’s co-fou