Advertisement
Canada markets open in 9 hours 24 minutes

  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CAD/USD

    0.7323
    -0.0001 (-0.01%)
     

  • CRUDE OIL

    83.81
    +0.24 (+0.29%)
     

  • Bitcoin CAD

    87,895.73
    +86.80 (+0.10%)
     

  • CMC Crypto 200

    1,390.45
    +7.87 (+0.57%)
     

  • GOLD FUTURES

    2,346.20
    +3.70 (+0.16%)
     

  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • NASDAQ futures

    17,767.50
    +200.00 (+1.14%)
     

  • VOLATILITY

    15.37
    -0.60 (-3.76%)
     

  • FTSE

    8,078.86
    +38.48 (+0.48%)
     

  • NIKKEI 225

    37,924.60
    +296.12 (+0.79%)
     

  • CAD/EUR

    0.6827
    +0.0006 (+0.09%)
     

Electric truck maker Nikola receives delisting notice

Reuters
·1 min read
Italian truckmaker Iveco holds business presentation, in Turin

(Reuters) - Nikola Corp said on Thursday Nasdaq gave the electric truck maker a delisting notice for not meeting its minimum bid price requirements.

Shares of the company were down 5% at 73 cents. They fell about 78% last year on high battery material costs and production concerns.

Nikola has been trying to raise cash for operations by selling equity, like other electric vehicle (EV) firms, in a turbulent market, and on Wednesday urged shareholders to vote in favor of increasing the number of shares at its annual shareholder meeting next month.

EV startup Lordstown Motors Corp last month received a similar notice and effected a reverse stock split this week to meet the exchange's rules.

ADVERTISEMENT

Earlier this month, Nikola said it would pause production to streamline the assembly line at its Coolidge, Arizona factory amid sluggish demand for its battery-powered trucks.

(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)