The move would it back into compliance with the trade organization and eliminate risk of delisting car auto cars
, the truck maker that specializes in electric and hydrogen freight haulers, is currently facing the risk of delisting from the Nasdaq stock exchange. The company’s CEO, Michael Lohscheller, mentioned during a fireside chat that if necessary, the brand could implement a reverse stock split to address the issue. However, the company is aiming to regain compliance with Nasdaq’s listing requirements before the deadline without resorting to a stock split.
The Nasdaq stock exchange requires that all shares trade at or above $1. Should a share drop below that price for more than 30 straight days, it’ll send a delisting notice to the company in question.. At that stage, the company has 180 days to get its share price back to $1 or higher and it must maintain that price for 10 consecutive days.
While it’s plausible that Nikola could ask for an extension and aim to meet other requirements, the best-case solution is to regain compliance the normal way, with increased value in the company. To that end, Lohscheller said that despite having to make tough decisions in “challenging times” that the team believes it can regain compliance.
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