Nikola’s stock tumbled nearly 13% today, erasing gains from the previous session when it climbed about 4%.
On Thursday, Nikola shares plunged 12.80% to close at 60 cents on the New York Stock Exchange.
The electric truck startup has been experiencing extreme volatility, and its threat of bankruptcy has drawn in speculative traders.
This turbulence follows a pattern of sharp price swings, with Nikola’s stock rising 4% on Tuesday and surging nearly 30% the day before. However, over the weekend, shares plummeted by a staggering 41%, highlighting the stock’s ongoing rollercoaster ride.