how is nikola stock doing: NKLA update

Nikola Corporation (NKLA) — stock performance and market status

As a quick answer to "how is nikola stock doing": the company’s publicly traded shares (ticker NKLA) have experienced extreme volatility and material corporate events — including equity offerings, convertible-debt mechanics, a Chapter 11 filing and an announced voluntary delisting — that have materially altered the risk profile and liquidity for shareholders. This article summarizes trading performance, financial metrics, corporate actions, legal background and what investors and holders should watch next.

Note: this article focuses strictly on Nikola Corporation as an equity (NKLA). It does not cover unrelated uses of the name. Where possible, dates and sources are shown to reflect the reporting timeline.

Overview

Nikola Corporation develops battery-electric and hydrogen fuel-cell commercial trucks and supporting energy infrastructure for heavy transport. Its product roadmap has included battery-electric (BEV) and fuel-cell electric (FCEV) trucks and hydrogen refueling infrastructure. The company historically traded under the ticker NKLA on the Nasdaq exchange. This article concentrates on equity performance and market events that affect shareholders, including recent capital raises, debt and conversion features, a Chapter 11 process and an announced voluntary Nasdaq delisting and SEC deregistration.

(Sources: MarketWatch, Reuters)

Trading history and recent price performance

Recent trading and short-term performance

As of Jan 20, 2026, according to major market quote pages, intraday and short-term trading for NKLA has been characterized by low liquidity, wide intraday swings, and outsized percentage moves relative to larger, more liquid equities. Retail and active traders have frequently driven sharp intraday moves while institutional participation has declined following corporate and legal events. For live numeric snapshots (last price, 1‑day change, 1‑month change, and recent volume profiles), check the NKLA quote on major market data providers.

In short: if you are asking "how is nikola stock doing" in the near term, expect intermittent high volatility and thin order books that can magnify both gains and losses.

(Representative sources: Yahoo Finance, MarketChameleon, Barron's)

Medium- and long-term performance

Over 6‑month, 1‑year and multi‑year windows NKLA has shown large drawdowns from prior market highs. The 52‑week trading range and multi‑year declines reflect both operating losses and damages to investor confidence following regulatory and legal challenges. Historically, periods of investor optimism around product announcements produced spikes, while negative corporate developments (investigations, lawsuits, missed milestones) led to prolonged declines.

If you are researching "how is nikola stock doing" from a longer-term viewpoint, the key takeaway is that NKLA’s price history includes wide variance with multiple regime shifts tied to corporate events rather than steady business-driven appreciation.

(Sources: Yahoo Finance historical charts, MarketChameleon)

Market capitalization and classification

Following sustained declines and the company’s restructuring moves, NKLA has been reported within a micro-cap or sub‑micro cap range (depending on the most recent market price and outstanding share count). The company’s measured beta and volatility metrics generally indicate higher systematic and idiosyncratic risk relative to large-cap peers. Thin liquidity and share-supply mechanics (see corporate actions) can cause market-cap calculations to swing significantly with modest price moves.

(Sources: MarketChameleon, Yahoo Finance)

Key financial metrics

As of Jan 20, 2026, readers should verify the latest reported figures on official filings and major market-data providers. The descriptions below summarize typical items reported in filings and quote pages.

Revenue, profitability and cash flow

Nikola has reported limited recurring revenue from commercial vehicle deliveries relative to development and operating costs. Recent filings and market summaries have shown ongoing net losses and negative operating cash flow in reporting periods leading up to the Chapter 11 filing. In plain terms: revenue has not offset development and fixed-cost intensity, producing persistent negative profitability and cash-flow shortfalls.

(Sources: Reuters, Yahoo Finance)

Balance sheet highlights

Company balance sheet disclosures historically emphasized cash on hand, short‑term liquidity needs, total debt and any outstanding convertible instruments. Prior to and during restructuring, the company disclosed liabilities, convertible notes and commitments that have influenced enterprise valuation and potential dilution. For precise cash, total debt and enterprise value numbers, consult the latest 10‑K/10‑Q or company announcements.

(Sources: Reuters, Yahoo Finance)

Analyst coverage and price targets

Analyst coverage of NKLA has contracted after major corporate events; where analysts remained active they provided widely divergent views reflecting high uncertainty. Consensus price targets and ratings are fluid; some services aggregated limited analyst opinions while others ceased coverage. For the latest consensus measures, check financial-data aggregators, keeping in mind these are not investment advice.

(Sources: Reuters, Yahoo Finance)

Corporate actions and capital structure developments

Equity raises and conversion features

In a notable capital raise, Nikola offered up to $100 million in common stock to shore up liquidity. Such offerings increase share supply and can dilute existing holders if shares are issued at prices below previous cost bases. Convertible-note holders or other equity-linked instruments may also introduce additional dilution when conversion features are exercised or when resale mechanics for converted shares are triggered.

(Reported Dec 9, 2024, TechCrunch coverage)

Convertible notes, debt and liability restructuring

The company has used convertible securities and other instruments that can convert into common shares under specified conditions. These instruments can expand the share count when conversions or resales occur, particularly during distressed periods when holders seek liquidity. During restructuring, the treatment of convertible notes is a central matter for both creditors and shareholders.

(Sources: TechCrunch, Reuters)

Bankruptcy, delisting and regulatory status

Chapter 11 filing and consequences

As disclosed by the company, Nikola filed voluntary Chapter 11 petitions to reorganize obligations and coordinate creditor claims. Chapter 11 typically allows operations to continue while the company negotiates a reorganization plan; however, outcomes vary widely and can include restructuring, sale of assets, conversion to a new equity structure, or liquidation. Chapter 11 materially increases uncertainty for existing shareholders because plan outcomes determine if and how existing shares retain value.

(Company press release: Nikola Corporation Announces Chapter 11 filing — as reported by the company)

Nasdaq suspension / delisting and SEC deregistration

On March 24, 2025, Nikola announced its intent to voluntarily delist from Nasdaq and to deregister with the U.S. SEC. Voluntary delisting combined with potential delisting actions typically results in the suspension of trading on Nasdaq and may lead to quotation on over‑the‑counter (OTC) venues if permitted. Deregistration reduces public reporting obligations under the U.S. securities laws and can limit public transparency. For shareholders, delisting and deregistration can reduce liquidity, increase bid‑ask spreads, and make it harder to source real-time financial disclosures.

(As of Mar 24, 2025, per Nikola press release)

Controversies, legal matters and corporate governance

Founder-related legal history

Founder-related legal issues have been central to Nikola’s public perception. Trevor Milton, the company’s founder, faced criminal charges related to alleged misstatements and was convicted in criminal proceedings; later developments included reported executive-level legal events and public commentary that shaped investor sentiment. These legal episodes materially affected trust in management and played a role in investor and regulatory scrutiny.

(Reported in general coverage; see Economic Times and aggregated reporting for coverage on founder legal history)

Governance responses and management changes

In response to controversies, Nikola implemented leadership and governance changes over time. The board and executive team have undertaken replacements, disclosure updates and compliance steps in filings and press statements. Governance changes aim to shore up operational credibility, though effectiveness depends on execution and transparency over time.

(Sources: Reuters, company filings)

Business operations and product progress impacting the stock

Production, deliveries and commercial traction

Nikola’s product lines have included the Nikola Tre BEV and FCEV variants and hydrogen infrastructure initiatives. Production ramp, delivery milestones and customer contracts are primary operational levers that influence investor expectations. Historically, missed production targets or slower-than-expected commercial traction have negatively impacted the stock price; conversely, confirmed deliveries or sizeable purchase agreements can be positive catalysts.

(Sources: TechCrunch, Reuters)

Partnerships and commercial contracts

Nikola has pursued partnerships with technology, supply-chain and logistics firms to source components, scale manufacturing, and develop hydrogen infrastructure. Material contracts and strategic customer commitments are important indicators of future revenue potential and can affect both market sentiment and credit negotiations during restructuring.

(Sources: Reuters, company disclosures)

Trading characteristics and investor considerations

Volatility, liquidity and risk profile

If you are still asking "how is nikola stock doing" for trading purposes, understand the following typical characteristics:

• Elevated volatility compared with broad-market averages.
• Periods of very low liquidity (thin order books), leading to wide spreads and execution risk.
• Significant dilution risk from equity raises and conversion of debt instruments.
• Higher susceptibility to headlines, legal announcements and restructuring filings.

These characteristics make NKLA a high‑risk equity that requires careful position sizing and awareness of corporate event timelines.

(Sources: MarketChameleon, Yahoo Finance)

What shareholders should monitor

Key items shareholders and prospective buyers should monitor if they want to evaluate "how is nikola stock doing" going forward:

• The timeline and terms of the Chapter 11 reorganization plan.
• Final outcome and effective date of Nasdaq delisting and SEC deregistration.
• Any announced equity raises or material conversions that change share count.
• Quarterly or special filings that update cash balances, revenue and contract status.
• Operational milestones: verified production and delivery numbers, and confirmed customer contracts.

These items will materially affect liquidity, valuation and potential recovery scenarios for equity holders.

(Synthesis of company communications and market data)

Recent news timeline (selected events)

• Dec 9, 2024 — TechCrunch reported that Nikola offered up to $100 million in common stock as a capital raise to address liquidity needs. (Source: TechCrunch)
• Mar 24, 2025 — Nikola issued a press release announcing intent to voluntarily delist from Nasdaq and to deregister with the SEC; that filing accompanied other restructuring disclosures. (Source: Nikola press release)
• [Date of Chapter 11 filing] — Nikola filed voluntary Chapter 11 petitions; the filing and related relief motions were reflected in company notices to stakeholders. (Source: Nikola press release/filings)
• Multiple prior periods — Reuters and other market-data providers reported ongoing negative net income, high operating cash burn and governance changes over preceding reporting periods. (Sources: Reuters, MarketWatch)
• Ongoing — Market data pages (Yahoo Finance, MarketChameleon, Barron's) updated intraday price and liquidity metrics reflecting thin trading and volatility. (Sources: Yahoo Finance, MarketChameleon, Barron's)

Note: precise filing dates for Chapter 11 and some subsequent court filings may appear in official court dockets and SEC notices; readers should consult the company’s official press releases and court filings for the authoritative timeline.

Analysis and outlook (neutral summary)

For readers asking "how is nikola stock doing" in terms of prospects: the equity is in a high-uncertainty state. The combination of operating losses, dilution risk from equity offerings and convertibles, founder- and governance-related controversies, and formal restructuring/delisting actions all point to a wide range of potential outcomes. Possible outcomes include:

• Reorganization that preserves some equity value under a new capital structure.
• Conversion of claims that heavily dilute existing common shareholders, leaving limited recovery for pre‑petition equity.
• Deregistration and trading on less-regulated venues that reduce liquidity and public disclosure.
• Liquidation scenarios that prioritize creditors and may render common shares worthless.

Given those possibilities, the neutral position is that NKLA represents a speculative and high‑risk equity where price movements are driven as much by event outcomes and headline risk as by underlying commercial progress.

(Synthesis of filing consequences and market behavior)

See also

• Electric truck manufacturers and EV commercial vehicle makers
• Hydrogen fuel-cell vehicle companies and hydrogen infrastructure
• Corporate bankruptcy (Chapter 11) and public company delisting processes

References (primary sources used)

• Nikola press release: "Nikola Corporation Announces Intent to Voluntarily Delist from Nasdaq and Deregister with the SEC" (reported Mar 24, 2025)
• TechCrunch — "Troubled electric truckmaker Nikola offers up to $100 million in common stock" (reported Dec 9, 2024)
• Reuters — NKLA company page and financials (market-data and filing summaries)
• Yahoo Finance — NKLA quote and performance metrics (intraday and historical data)
• MarketChameleon — NKLA stock summary and trading stats
• Barron's — NKLA interactive charts
• Bloomberg — NKLA overview/quote and delisting status
• Economic Times — Nikola stock live and coverage related to founder/legal matters
• Robinhood — NKLA brokerage profile (for retail trading context)

Additional guidance and actions

If you want to track "how is nikola stock doing" in real time:

• Monitor company press releases and official filings for the Chapter 11 plan, Nasdaq communications, and shareholder notices.
• Use reputable market-data pages for live quote, volume and historical charts.
• If you hold stock and seek execution tools or custody, consider regulated trading platforms and secure Web3 wallet options; for Web3 wallet needs, Bitget Wallet is an available solution for wallet management and asset custody. For trading and market tools, consider Bitget’s platform offerings for monitoring markets.

Remember: this article provides factual background and event summaries — it is not investment advice.