66% of logistics pros say talent quality — not cost — is the #1 factor in choosing a nearshore partner. Rapido's integration model explains why that's the right question to be asking.
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Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
Shares of Nikola $NLKA plummeted 40% today as the company filed for Chapter 11 bankruptcy.
At one point, Nikola was valued at $30 billion and considered the future of EV Trucking.
Lack of revenue growth and a series of scandals entangled the company in a free fall that failed to secure it a buyer.
Steve Girsky, CEO of Nikola, said, “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,”
4.5 years ago in June of 2020 the stock traded at $1977. Today it sits at $.45, a 99% decline.
Nikola plans to auction off its assets once the court approves them.
BREAKING: Nikola stock, $NKLA, falls -60% in premarket trade after the EV maker files Chapter 11 bankruptcy. pic.twitter.com/wAwL3T5AJY
— The Kobeissi Letter (@KobeissiLetter) February 19, 2025
FreightCaviar did a deeper report on Nikola at the end of January. Read more by clicking here.
Paul-Bernard Jaroslawski
Bad carriers are gaming the weigh station system. Plus, C.H. Robinson's own engineer goes scorched earth on Reddit, the Ghost Truck Act gets roasted, and more in today's newsletter.
Plus, STG's path out of bankruptcy, Wyoming's "Truck Around and Find Out" operation, what "phantom capacity" means for Mexico lanes, and more in today's newsletter.
Plus, a cabless autonomous truck just raised $24M, non-domiciled CDLs rules need clarifying, CSX posts a 26% profit jump while watching the UP-NS merger closely, and more in today's newsletter.
Plus, USPS gives non-domiciled CDL carriers an 11-day deadline, the spot-to-contract spread starts squeezing 3PLs, Knight-Swift trims its Q1 guide but stays bullish, and more.
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