TechCrunch Summary (2023-05-25 02PM)

Source: Electric truck maker Nikola at risk of being delisted from Nasdaq

Summary
Electric truck maker Nikola is at risk of being delisted from the Nasdaq owing to its share price being below $1 for 30 consecutive days. The company has until November 20 to comply with the Nasdaq’s minimum price rule and avoid having its shares delisted.

Fact

📉 Nikola shares have fallen 20% to $0.62, having once been as high as $65.90.

📉 Nikola is among a growing number of SPAC companies, including Arrival, Bird, and Canoo, whose market cap has gone into freefall.

📉 Many mobility companies were attracted to the capital public markets offer, but now the fundamentals are catching up with these companies.

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