Written by Cláudio Afonso | LinkedIn | X
Nikola shares hit a record low of $1.09 on Thursday, barely above Nasdaq’s $1 minimum listing requirement. With three trading days remaining in 2024, the hydrogen and electric truck maker’s shares have lost 96% of their value this year.
On December 19, Nikola posted a video on social media stating it would “continue to produce and deliver FCEV and BEVs into 2025.” The company also emphasized its “commitment to delivering and producing trucks for current and new customers remains unchanged.”
The video, recorded on December 18 according to Nikola, shows employees working on a truck identified by VIN number 351. Considering the company produced and delivered about 35 vehicles in the last quarter of 2023, the VIN filmed would mean that Nikola was producing its 316th truck of 2024 with less than two weeks remaining.
At the end of October, Nikola reaffirmed its annual delivery target of 300 to 350 trucks.
Produced trucks stood at 83 units between July and September taking the total number of produced trucks to 203 as of the end of the third quarter. In the third quarter, the company delivered 88 trucks, setting a quarterly record and bringing total deliveries for the year to 200 as of the end of September.
Twenty four hours earlier, the company said it would open its first hydrogen refueling station in Northern California in January.
Nikola has recently filed a prospectus announcing plans for the potential resale of up to 34.1 million shares by selling stockholders. Additionally, the company said it had entered an equity distribution agreement with BTIG allowing it to sell up to $100 million worth of common stock in an at-the-market offering.
The company has recently announced a recall of 72 of its 2022-2023 battery electric (BEV) trucks due to a defect in the instrument cluster display.
Written by Cláudio Afonso | LinkedIn | X
