Why Is Nikola Stock Dropping? (0$ Share Price?)
Why Is Nikola Stock Dropping? Nikola [NKLA] Stock Is Falling Again After Getting Struck by an after hours Onslaught. Stock in Nikola dropped to $41.78 to close out the week. Last week, Ed Vranic from Seeking Alpha wrote an article on Nikola Corporation (NKLA) titled "Nikola: Impending Free Trading Shares Will Cause An Imminent Crash To Less Than $20". Just as it came out, the company filed an S-1 to register 53,390,000 shares related to the PIPE financing at $10 and 23,890,000 shares related to the exercise of warrants from the old VectoIQ shell. Despite this, so far the stock has managed to stay solid above $50 but once the S-1 became effective Friday, the drop started and I expect it to continue Monday morning.
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Ed Vranic from Seeking Alpha Articles can be found here:
https://seekingalpha.com/news/3592384...
https://seekingalpha.com/article/4355...