Nikola’s stock remains on a roller coaster ride, surging over 13% despite reports of an impending bankruptcy.
On Monday, Nikola shares jumped 13.16% to 50 cents on the New York Stock Exchange, rebounding from steep losses in recent sessions.
The electric vehicle startup, facing a severe financial crisis, has seen its stock price fluctuate dramatically.
Last Friday, shares plummeted 41% to 44 cents following reports of an imminent bankruptcy filing.
However, the stock surged over 13% that day, likely driven by bargain hunters.
Nikola’s extreme volatility stems from speculative investors betting on a potential turnaround. With shares trading below $1, the downside risk is relatively limited, while a successful recovery could generate substantial gains.