Nikola's Fall from Grace: From $30B Valuation to Bankruptcy

Hydrogen electric trucking startup Nikola Corp. filed for Chapter 11 bankruptcy, marking the dramatic downfall of a once-promising Silicon Valley darling. After achieving a $30 billion valuation in 2020, a series of scandals involving founder Trevor Milton sent the company into a tailspin. Despite attempts to raise capital and sell assets, Nikola ultimately failed to secure its future, leading to bankruptcy. The case serves as a cautionary tale about the importance of ethical business practices and robust risk management in the tech industry.