Robert Besser
29 May 2023, 05:24 GMT+10
NEW YORK CITY, New York: Electric truck manufacturer Nikola Corp said that Nasdaq has delivered a delisting notice for not meeting its minimum bid price requirements.
After the announcement, shares of the company were down 5 percent at 73 cents. Last year, they fell some 78 percent due to high battery material costs and production concerns.
During the current turbulent market, Nikola has been attempting to raise cash for operations by selling equity, along with other electric vehicle makers.
This week, the company urged shareholders to vote in favor of increasing the number of shares at its annual shareholder meeting to be held next month.
Due to slow demand for its battery-powered trucks, Nikola said it will pause production to streamline the assembly line at its Coolidge, Arizona factory earlier this month.
Get a daily dose of North Carolina Daily news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to North Carolina Daily.
More InformationNEW YORK, New York - Interest rates could stay higher for longer, but there is the possibility of rate cuts ...
WASHINGTON D.C.: Last week, the Federal Reserve said its losses surpassed the US$100 billion mark and will likely continue to ...
NEW YORK, New York - U.S. investors fretted Tuesday while the U.S. central bank deliberated on whether to hike interest ...
CHICAGO, Illinois: According to a report released by global outplacement and executive coaching firm Challenger, Gray & Christmas, U.S. retailers ...
NEW YORK, New York - U.S. stocks stocks were quiet and little changed Monday, ahead of the Federal Reserve's monthly ...
BEIJING, China: U.S. aerospace and defense firms Northrop Grumman and Lockheed Martin have been sanctioned by China for selling weapons ...
ISLAMABAD, Pakistan - The government has warned all information technology (I.T.) and financial institutions, including regulators, to avoid using "Indian ...
NEW YORK: This week, the Wall Street Journal (WSJ) reported that U.S. electric vehicle (EV) maker Tesla and Saudi Arabia ...
MONTGOMERY, Alabama: Last week, Alabama's school chief, Superintendent Eric Mackey, said that under new reading benchmarks to move to fourth ...
NEW ORLEANS, Louisiana: As Midwest farmers prepare to harvest crops and send tons of grain downriver to the Gulf of ...
WASHINGTON D.C.: Last week, the Federal Reserve said its losses surpassed the US$100 billion mark and will likely continue to ...
DHAKA, Bangladesh - Hundreds of articles purportedly written by independent experts praising Bangladeshi government policies have appeared in national and ...