Nikola Corporation Stock News

President Trump's intervention came while Mr. Milton was appealing his conviction on securities and wire fraud charges.

Milton was convicted of fraud in 2022 for statements about zero-emission trucks.

Nikola founder Trevor Milton said that President Donald Trump has pardoned him. Milton was convicted in October 2022 of crimes related to defrauding investors with misrepresentations about the success of the electric- and hydrogen-powered truck maker.

Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware.

Nikola Corporation (Nasdaq: NKLA), a once-promising electric vehicle startup, filed for Chapter 11 bankruptcy protection Wednesday after failing to secure a buyer or raise additional funds to sustain operations. The Phoenix-based company, known for its hydrogen and battery-electric trucks, announced that it will pursue a structured sale of its assets under Section 363 of the U.S. Bankruptcy Code.

After becoming embroiled in scandal, formerly hot startup and Wall Street star had said it would likely run out of cash

Electric vehicle startup Nikola (NKLA) filed for Chapter 11 bankruptcy and plans to move forward with an auction of its assets, pending court approval, the company said Wednesday.

Nikola Corp (NASDAQ:NKLA) stock plummeted after the heavy-duty electric vehicle manufacturer revealed it has filed for Chapter 11 bankruptcy.  The Phoenix, Arizona-based company said it has initiated an auction and sale process for its assets, with potential buyers including both strategic and financial investors.