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 San Jose Sun 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 San Jose Sun.
More Information(Photo credit: Stephen R. Sylvanie-USA TODAY Sports) Las Vegas Raiders quarterback Jimmy Garoppolo was checked for a concussion after the ...
(Photo credit: David Frerker-USA TODAY Sports) The San Diego Padres and San Francisco Giants hope to keep their flickering postseason ...
(Photo credit: Jerome Miron-USA TODAY Sports) The Texas Rangers' magic number is five to earn their first playoff berth since ...
(Photo credit: Troy Taormina-USA TODAY Sports) This past weekend might have determined how the American League West was won. Houston, ...
(Photo credit: Kirby Lee-USA TODAY Sports) Kenny Pickett threw two touchdown passes for the first time as a professional and ...
(Photo credit: John Jones-USA TODAY Sports) While the Arizona Diamondbacks are attempting to secure their first playoff berth since 2017, ...
WASHINGTON D.C.: U.S. Transportation Secretary Pete Buttigieg has criticized the air traffic control staffing shortages in New York as "unacceptable" ...
BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors ...
TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...
HANOI, Vietnam: While the European Union (EU) is set to impose tariffs on its Chinese rivals, Vietnamese electric vehicle (EV) ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...
PARIS, France: Amid the imminent launch of the iPhone 15, unions representing Apple store workers in France have called for ...