"Nikola Stock Plummets: Unraveling the Crash and Future Predictions"

Nikola Corp (NASDAQ:NKLA) shares are trading lower after the company announced proposed offerings of $100 million of common stock and $200 million of green convertible senior notes due 2026. The company plans to use the net proceeds for working capital and general corporate purposes, as well as finance or make direct investments in eligible projects. This news follows Nikola's recent increase in unrestricted cash position and comes as the stock faces heavy selling pressure, down over 54% since the beginning of the year.