Fuel cell startup Nikola nears public trading debut

Nikola truck

Nikola Corp., the startup maker of Class 8 trucks electrically powered by batteries and fuels, expects its shares to trade under its own name on the NASDAQ later this week following a vote to merge with the “blank check company” that raised hundreds of millions of dollars for its public launch.

VectoIQ (NASDAQ: VTIQ) and Nikola shareholders scheduled what is expected to be a drama-free execution of the merger Tuesday morning. VectoIQ shares would begin trading under the ticker NKLA on Thursday.

Es...

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Pre-merger surge drives Nikola value to $12 billion

Nikola One

Before building a single vehicle for sale, the valuation of fuel cell electric truck maker Nikola Corp. quadrupled to about $12 billion during a week of frenzied trading in shares of its merger partner.

Double-digit daily upward moves in VectoIQ, the NASDAQ-traded holding company that is acquiring Nikola in a reverse merger, sent VTIQ shares as high as $35.38 early on May 13 compared with a closing price of $14.12 on May 6.

Two events supercharged the share price.

On Friday, May 8, VectoIQ...

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