Nikola Corp said on Thursday Nasdaq gave the electric truck maker a delisting notice for not meeting its minimum bid price requirements.
Shares of the company were down 5 Percent at 73 cents. They fell about 78 Percent last year on high battery material costs and production concerns.
EV startup Lordstown Motors Corp last month received a similar notice and effected a reverse stock split this week to meet the exchange’s rules.
Earlier this month, Nikola said it would pause production to streamline the assembly line at its Coolidge, Arizona factory amid sluggish demand for its battery-powered trucks.