Why Nikola Stock Is Getting Crushed This Week

Nikola's going with the maximum reverse stock split it can perform. That's because one detail from the announcement didn't provide any new confidence among investors. Investors reacted negatively because it signals that Nikola's board doesn't have a large amount of confidence that the underlying business can help raise the stock price. The ultimate reason for the split was to get in compliance to remain listed on the Nasdaq Stock Market. Stocks can't trade below the $1 per share level for an extended period ...