In the latest episode of "The FreightCaviar Podcast", we sit down with Grace Maher and Jonathan McCormack of OTR Solutions. They shared their take on the current freight market, freight fraud, and talked about OTR's new platform for carriers.
AI agents are loud. Levity’s automation gets things done. Learn why freight ops need workflows, not hype.
Plus, Landstar delays Q1 earnings report due to massive fraud hit, witness tied to truck crash scheme murdered, UPS to cut 20K jobs amid Amazon pullback, and more.
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
Shares of Nikola $NLKA plummeted 40% today as the company filed for Chapter 11 bankruptcy.
At one point, Nikola was valued at $30 billion and considered the future of EV Trucking.
Lack of revenue growth and a series of scandals entangled the company in a free fall that failed to secure it a buyer.
Steve Girsky, CEO of Nikola, said, “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,”
4.5 years ago in June of 2020 the stock traded at $1977. Today it sits at $.45, a 99% decline.
Nikola plans to auction off its assets once the court approves them.
BREAKING: Nikola stock, $NKLA, falls -60% in premarket trade after the EV maker files Chapter 11 bankruptcy. pic.twitter.com/wAwL3T5AJY
— The Kobeissi Letter (@KobeissiLetter) February 19, 2025
FreightCaviar did a deeper report on Nikola at the end of January. Read more by clicking here.
Paul-Bernard Jaroslawski
Saia shares have had an incredibly challenging past week, dropping 33% after missing earnings, down $117 from its high at $354.15, now trading at $237.95.
Today we sat down with Karolina Plecha, a truck driver living in Norway. She shares insights on life on the road, the future of electric vehicles, and what she does to prepare for unpredictable weather conditions.
Is this trucker a criminal or just a hustler trying to stay in the game? It depends on how you look at it.
CtrlChain carriers cut admin time by 95%, process paperwork 80% faster, and get paid 4x quicker. See what’s new in 2024—and what’s coming next in 2025!
Join over 12K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
