Nikola stock falls after company files for share offering
Nikola Corp. has filed to sell $100 million worth of shares, and the stock fell more than 3% in the extended session Monday after ending the regular trading day up 0.2%. Proceeds will be used for general corporate purposes, "which may include providing funding to complete our Arizona manufacturing facility," as well as the ongoing development of commercial electric and fuel-cell commercial and hydrogen-station infrastructure, Nikola said. Nikola had fourth-quarter results late last month, reporting a narrower-than-expected adjusted quarterly loss.
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