NKLA - Why EV Maker Nikola's Stock Is Crashing | Benzinga
Nikola Corporation (NASDAQ:NKLA) shares are dropping Thursday after the company announced its board of directors has approved a 1-for-30 reverse stock split.
The Details:
Nikola's stockholders previously approved the reverse stock split with a ratio of not less than 1-for-10 and not greater than 1-for-30, with the exact ratio of the reverse stock split to be determined by the board of directors. According to an SEC filing, the board approved a 1-for-30 reverse stock split on June 13.
The reverse stock split will be effective as of June 24 at 4:01 p.m ET, and the stock will begin trading on a split-adjusted ...