Nikola (NKLA) is looking into options to stave off a cash crunch, including a possible sale of parts or all of the company, Bloomberg’s David Welch and Kara Carlson report, citing people familiar with the matter. Other options under consideration include bringing on partners or raising new funds, the authors note. No decisions have been made as of yet, and management could opt against any major changes, the authors say. Shares of Nikola are down 29% after the news.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKLA:
- Nikola weighs sale, partnerships to stave off cash crunch, Bloomberg reports
- Nikola Stock (NKLA) Plunges over 20% amid Bankruptcy Speculation
- Nikola down 7% to $1.09 after Electrek says bankruptcy filing imminent
- Nikola CEO Girsky ‘out,’ bankruptcy filing in lawyers’ hands, says Lambert
- Nikola (NASDAQ:NKLA) Jumps as Hindenburg Goes Down