Electric truck maker Nikola may do reverse stock split to comply with Nasdaq rules
Add BT as a preferred source
ELECTRIC truck maker Nikola Corp may execute a reverse stock split if its stock does not comply with Nasdaq’s minimum bid price requirements within a certain period, its chief executive Michael Lohscheller said on Thursday (Jun 1 ).
A reverse stock split consolidates the number of existing shares into fewer shares.
Nikola, which closed at about US$0.57 on Thursday, said last week it received a delisting notice from the stock exchange.
Nasdaq requires shares trade above US$1 and sends a notice if one trades below that mark for 30 consecutive business days.
Lohscheller’s comments were made in a webcast to answer shareholder questions. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Knight Frank Singapore CEO Galven Tan resigns after 2.5 years at helm
ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land
15-month wait-out curb lifted for private property owners buying HDB resale flats
Philippines’ income upgrade hides grim reality for most Filipinos
