Nikola, the electric truck maker, saw its shares drop by 27.8% after Bloomberg News reported the company might be considering selling parts or all of its business. The stock hit a 52-week low of 76 cents before closing at 85 cents. The company is also exploring options like partnerships and new funding. Nikola had previously warned that its cash reserves of $198 million would only last until the first quarter of 2025. CEO Steve Girsky, who led Nikola public through a SPAC in June 2020, mentioned ongoing talks with potential partners. The company’s journey has been turbulent, marked by federal investigations and executive changes.
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![Why Nikola Stock is Down - Buy the Hype and Sell the News [Why NKLA stock is falling]](https://i.ytimg.com/vi/DBCbl40QB7w/mqdefault.jpg)
