Nikola (NKLA) is exploring options, including potentially selling parts or all of the company, to avoid a cash crunch, Bloomberg reported Thursday, citing people familiar with the matter.
Other possibilities under consideration are partnerships or raising funds, the news report said. The management has not decided on any options and may not to take action, the news report said.
The company told Bloomberg that it has been working to raise capital and reduce its liabilities despite headwinds in the electric vehicles industry.
Nikola did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.