NKLA - What's Going On With Nikola Stock After Its Reverse Split? | Benzinga
Nikola Corporation (NASDAQ:NKLA) shares are trading lower Tuesday after the stock began trading on a reverse split-adjusted basis.
The Details:
Nikola effected a 1-for-30 reverse stock split after the closing bell Monday and shares commenced trading on a split-adjusted basis Tuesday morning. The company also filed a prospectus with the SEC regarding the offering of an aggregate of up to 23.89 million shares, issuable upon the exercise of warrants originally issued in the initial public offering of VectoIQ.
Nikola shares are down nearly 40% over the past month as the company faces several challenges.
Trevor Milton, Nikola's founder, said he filed a multi-billion derivative lawsuit against the company's present chief legal officer, Britton Worthen, and its directors in a post on the X ...