Nikola files for Chapter 11 bankruptcy. EV stock nosedives.

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Wed, Feb 19, 2025, 9:19 AM

Nikola (NKLA) shares plunged by over 50% on Wednesday after the electric vehicle (EV) maker was unable to raise funds or secure a buyer and filed for Chapter 11 bankruptcy. This comes over a year after Nikola founder and former CEO Trevor Milton was sentenced to four years in prison on fraud charges.

Brad Smith and Madison Mills break down what investors need to know.

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This post was written by Naomi Buchanan.