The US Nikola logo is represented during an event organized to present the new battery trucks with battery battery battery to battery with full level and hydrogen of CNH in partnership with US Nikola Event in Turin, in Italy, December 3, 2019.
Massimo Pinca | Reuters
Detroit – Actions of Nikola Closed Thursday down 27.8% after a report that the manufacturer of besieged electric trucks explores options to sell parts or the entire company.
The title closed Thursday at 85 cents each after reaching a new 52 weeks lower of 76 cents before the end of trading.
Bloomberg News reported the potential sale Thursday afternoon and noted that other possibilities considered, in particular the creation of partners and the collection of new funds.
The report comes three months after Nikola warned investors at his conference in the third quarter that the company had only enough money to support its activities in the first quarter of 2025 but not beyond. Nikola said $ 198 million in cash to end in the third quarter.
Nikola Stock Nosedives.
The CEO of Nikola, Steve Girsky, an important part of the company, on the call of profits, said that the company “was actively talking to many potential partners who appreciate what we do and appreciate what we have built” .
Girsky, former banking analyst and General Motors Executive, took public Nikola through his acquisition company for special purposes, or SPAC, in June 2020. It was a catalyst for more electric vehicle companies to make public through spacs.
Many similarities in Nikola, most of them, if not all, failed to meet their initial expectations. Many, including Nikola, were the center of federal surveys, scandals and executive upheavals.
Nikola did not immediately respond to the request for CNBC comments on the Bloomberg report.
