NKLA - Why Nikola Stock Got Crushed This Week
2023-04-14 09:48:28 ET
Nikola (NASDAQ: NKLA) has been making progress with growing sales of battery-electric heavy trucks and the coming launch of its hydrogen-fueled versions. But that hasn't stopped the stock from dropping to new all-time lows.
This week, the stock dipped below $1 per share and is hovering about 20% below last week's closing price, according to data provided by S&P Global Market Intelligence .
Shares have steadily declined since the company announced it was raising $100 million by issuing common stock at a significant discount to the then-market price two weeks ago. The stock has now dropped below $1 per share after that offering was priced at $1.12.
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Why Nikola Stock Got Crushed This Week