Hydrogen Hopeful Nikola Nears Bankruptcy ...Middle East

OILPRICE - Economy
Hydrogen Hopeful Nikola Nears Bankruptcy
source : OILPRICE ( Middle East ) () 71
Hydrogen truck maker Nikola is considering a sale or a restructuring as it prepares to file for bankruptcy, the Wall Street Journal has reported, citing unnamed sources close to developments. The company enjoyed a lot of attention when it went public in 2020 despite not having sold any products at the time. Even so, its market cap at one point hit $30 billion, making the company temporarily more valuable than Ford. Later, however, a short seller revealed its chief executive had overhyped Nikola’s business plan to investors, for which he was…

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