Nikola Stock Drops 27.8% Amid Sale Rumors: What’s Next for the EV Maker?

Shares of Nikola Corporation plunged 27.8% after reports emerged that the electric truck manufacturer is exploring the possibility of selling parts or all of its business. This sharp decline comes amid the company's financial struggles, with CEO Steve Girsky confirming that Nikola is actively discussing potential partnerships and other strategic options. The company warned investors that its cash reserves would only sustain operations until the first quarter of 2025. Nikola’s troubles began after its high-profile SPAC merger in 2020, which initially raised investor hopes for its hydrogen and electric truck technology. However, production delays and regulatory issues have since hurt its stock price and credibility. The company is now at a crossroads, considering a sale, strategic partnerships, or raising new funds to remain afloat.

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Nikola Stock Drops 27.8% Amid Sale Rumors: What’s Next for the EV Maker? | Financial Growth