Nikola trades lower after news on 1-for-30 reverse stock split
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Contributor since / Followers
Contributor since / Followers
3 months ago
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- Nikola (NASDAQ:NKLA) was trading 21.50% lower on Thursday after the energy and transportation solutions company said its board approved a 1-for-30 reverse stock split, effective June 24 4:01 PM ET.
- The stockholders had approved a not less than 1-for-10 and not greater than 1-for-30 reverse stock split at the 2024 annual general meeting of shareholders held on June 5.
- NKLA will trade under the new CUSIP number 654110303.
- The number of shares of common stock will reduce to 1B from 1.6B.