What Caught Our Attention in the Investment World? – Week of March 27-31, 2023

By Kuldip K. Ambastha

On Friday, March 31, 2023, the stock price of Nikola Corporation (NKLA), an American vehicle and energy solutions company, declined by -13.6% per share. The company announced plans to raise $100 million through a secondary stock offering, priced at $1.12 per share. The funds will be used for working capital and other general needs. The pricing of $1.12 per share implies that Nikola is struggling even more than investors already knew. The high point of the stock’s 52-week range is $10.88 per share, a sharp contrast with the $1.21 closing price on Friday.

Keywords – Nikola Corporation, Nikola, NKLA, vehicle, energy solutions, secondary stock offering, working capital, general needs, struggling, contrast.

Disclosure – The principals and clients of Ambastha Financial LLC have no positions in NKLA.

Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2023 – Ambastha Financial LLC.




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