Nikola Corporation's stock is experiencing a decline today, with concerns about the company's financial health taking center stage. A recent analysis indicates that Nikola's probability of bankruptcy is over 81%, raising alarms among investors about the company's financial stability. This high probability of financial distress is derived from a combination of factors, including the Altman Z-Score and Piotroski F-Score, which are used to assess the likelihood of bankruptcy within the next two fiscal years. Such a high risk of financial distress is likely contributing to the negative sentiment surrounding the stock.
As of 10:00 AM on January 7, Nikola's stock is trading at $1.57, down 1.88% from the previous close of $1.60. The stock has seen a high of $1.69 and a low of $1.53 so far today. Despite being early in the trading day, the volume has reached 5,749,947 shares, which is 64.13% of its average daily volume of 8,965,509 shares.