What's Going On With Nikola (NKLA) Shares

Nikola Corp NKLA shares are trading higher by 9.23% to $0.77 during Monday's session. Shareholders last week reportedly rejected the company's proposal to issue more stock shares. The stock is up on continued momentum after the company announced that it would adjourn and reconvene its annual meeting of stockholders on July 6, 2023.

Nikola seeks to extend the voting period for Proposal 2, enabling the company to expand its authorized shares and enhance flexibility in fostering future business growth and development.

With a new proposed law in Delaware reducing the approval threshold to a majority of voting shares, Nikola currently has enough votes to secure approval for Proposal 2. The pending legislation is anticipated to become effective on August 1...Read More

According to data from Benzinga Pro, NKLA has a 52-week high of $8.97 and a 52-week low of $0.52.