The electric car manufacturer Nikola $NKLA (-28.57%) has filed for Chapter 11 bankruptcy. The company is planning to auction off its assets after a sale had previously been examined. The share price reacted dramatically as a result - falling by 38.62% to just EUR 0.44!
Nikola has 47 million US dollars in cash, which will now be used for the sale process. During the insolvency, the company intends to maintain its business in a limited form and fulfill its employee obligations.
What do you think about the future of Nikola? Is this the end for this once promising company or could there be an opportunity for investors?
There are many reasons for the insolvency, but one thing is clear: the electric car industry remains turbulent. What lessons can you learn from this situation? Let's discuss!
