Reverse stock split

Reverse stock splits: Often a path to oblivion

The reverse stock split, a form of financial engineering that artificially boosts a company’s stock price, often sounds a death knell, especially for startups that exhausted funds in mergers with special purpose acquisition companies.

The widespread carnage of failed advanced technology startups, especially in electrification and autonomy, is remarkable. With a few exceptions, companies opting for a reverse split end up on a path to oblivion.

All hat, no cattle

According to the independent Financia...

https://www.freightwaves.com/news/reverse-stock-splits-often-a-path-to-oblivion

It’s all in the numbers for Nikola

Three numbers tell the desperate state of fuel cell truck maker and hydrogen fuel provider Nikola. Dozens of others apply, but these three suggest the clock is ticking faster on whether the company can survive.

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By the numbers …

Nikola’s notable numbers: 135, 29.07% and 88.

135

https://www.freightwaves.com/news/its-all-in-the-numbers-for-nikola

Sitetracker: Speeding electric truck charging behind the scenes

Announcements of new charging depots for electric trucks seem to come almost weekly. Some are more promises than ready-to-go power. Sitetracker, a SaaS business rooted in telecommunications, is providing a cloud-based backbone to move things along.

Sitetracker has been around since 2008. In four rounds of fundraising, it has brought in $183 million, including $66 million in a Series D round in 2022. The Montclair, New Jersey-based company has doubled its head count while seizing opportunities in...

https://www.freightwaves.com/news/sitetracker-speeding-electric-truck-charging-behind-the-scenes

Nikola stats show H2-powered trucking is for real

Nikola has delivered 75 hydrogen-powered fuel cell trucks to customers. It has an order bank that should begin to produce meaningful revenue. Now it is producing statistical evidence that hydrogen-powered trucking is not just for show.

At two industry conferences this week and in data shared first with Truck Tech, Nikola revealed it has:

  • Completed 1,666 hydrogen fill-ups at three mobile refuelers in Coolidge, Arizona, as well as Ontario and Long Beach, California.
  • Dispensed 60.54 tons of...

https://www.freightwaves.com/news/nikola-stats-show-h2-powered-trucking-is-for-real

Switcheroo: EV Realty secures electricity before launching charging sites

Startups, real estate giants and others developing electric truck charging sites tend to pick locations before being certain they can get electricity in a timely fashion. Startup EV Realty prioritizes having the juice available when it buys a property.

‘Buying by the acre and monetizing by the megawatt’

Patrick Sullivan is like a lot of his peers developing electric infrastructure for fleet charging. He knows how the electric power business works, what it takes to develop and what can frustrate...

https://www.freightwaves.com/news/switcheroo-ev-realty-secures-electricity-before-launching-charging-sites

Exclusive: Nikola CEO Girsky upbeat despite myriad challenges

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In his career as a Wall Street analyst, an adviser to the United Auto Workers and a vice chairman of...

https://www.freightwaves.com/news/exclusive-nikola-ceo-girsky-upbeat-despite-myriad-challenges

Ree Automotive: Business life during wartime

Startup Ree Automotive builds its drive-by-wire electric powertrains in the United Kingdom. Its future customer base is mostly in the U.S. But its headquarters is in Tel Aviv, where the Hamas-Israel war takes an emotional toll on employees and their families called to fight.

Israel-based businesses count on some portion of their workforces serving in defense of the country surrounded by enemies sworn to destroy it.

When war comes calling, as it did during the Oct. 7 surprise bombing of Israel by...

https://www.freightwaves.com/news/ree-automotive-business-life-during-wartime

Cash-poor transportation startups gambling for fresh capital

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As transportation and electrification startups struggle to raise capital, they are increasingly...

https://www.freightwaves.com/news/cash-poor-transportation-startups-gambling-for-fresh-capital