Nikola Corp (fka NKLAQ)

[uksausage]

I remember Lehman brothers - I had bought puts at $15 or so
sold on day of filing at near $0
then bought calls as it bounced for 2-3 days to $4 (may have been higher) as rumors of a buyer went around.

In this case I am not sure except the filing suggest to me there is someone read to buy the debt free company. it only takes may be $500m to get a fully built factory (12,000 a year) well received BEV and FCEV, v2 in progress that is cost competitive (gross profit per vehicle if made in right volume) and national accounts begging to buy more.

So may be there is a whisper the stock may not get terminated like Lehman did. but come out of chapter 11