2:23 PM · 19 February 2025

Nikola Corporation goes bankrupt; company shares slide 55% 📉

Nikola CorporatNikola Corp. (NKLA.US) has filed for bankruptcy, topping off a long slide for the erstwhile electric vehicle industry darling, which has struggled with weak sales and cycled through CEO changes in the wake of a fraud scandal.

The company's market value peaked at $29 billion in the days close to the IPO, then fell to less than $100 million before filing for bankruptcy.

The company's shares lost nearly 55% before the open of Wall Street regular trading session.

Historical chart of the company's shares. Source: xStation

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