Rubber to Meet the Road With Nikola Cash Burn -- Market Talk

Dow Jones

Nov 11, 2024

1025 ET - Nikola is nearly running on fumes with its low levels of cash on hand. DA Davidson analyst Michael Schlisky says in a research note that the company's expected 5-6 months worth of cash could lead to cascading problems, potentially dampening sales and hurting relationships with suppliers. Customers may be worried about buying from an OEM with an unclear future. He says the company may not have access to traditional capital markets outside of an equity offering. Even selling all inventory would only generate a few extra months of cash, he says, speculating that the company may be looking for a strategic investor from the truck or auto industry. Shares are up 3.3%. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

November 11, 2024 10:25 ET (15:25 GMT)

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DA Davidson analyst Michael Schlisky says in a research note that the company's expected 5-6 months worth of cash could lead to cascading problems, potentially dampening sales and hurting relationships with suppliers. Customers may be worried about buying from an OEM with an unclear future. He says the company may not have access to traditional capital markets outside of an equity offering. Even selling all inventory would only generate a few extra months of cash, he says, speculating that the company may be looking for a strategic investor from the truck or auto industry. Shares are up 3.3%. 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