Nikola Files For Bankruptcy, Seeks Auction For Sale Of Its Assets
Nikola Corporation (NASDAQ:NKLA) shares are trading lower in the premarket session on Wednesday, after it filed for Chapter 11 bankruptcy, seeking to auction its assets while continuing limited operations through March 2025. Nikola announced today that it and certain subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware. According to Benzinga Pro, NKLA stock has lost over 96% in the past year. Related Read: Nikola, Once A $30 Billion