Nikola reverse stock split: EV maker shares drop amid Nasdaq delisting risks as date nears

With its stock trading at under $1, the embattled EV company is doing a 1-for-30 reverse split, which was just approved by the board. Here’s what that means.

The troubled electric vehicle maker Nikola (ticker: NKLA) saw its stock price plummet yesterday by over 31%, sending it to just under 33 cents per share. The reason for this? The company announced a reverse stock split. Here’s what you need to know.