Suspicious Fire Destroys Multiple Electric Trucks at Nikola HQ

Nikola Motor Corp. reported a fire affecting "multiple" battery electric trucks behind its headquarters in Phoenix, Arizona, and suspects foul play. The company has been working to stabilize its operations and production, having posted a sizeable loss in Q1 and shifted its Tre BEV to a "built-to-order" product. Nikola has also faced potential delisting from NASDAQ due to failing to maintain a closing minimum bid price of $1 per share. The company has recovered in the past month and is up over 70 percent, currently trading at $1.32 a share.