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NKLA - Should You Buy Nikola Stock While It's Below $10?
Nikola Corporation
2024-07-10 05:31:00 ET
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 Nasdaq 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?