: Nikola stock falls after shareholders approve plan to increase share count

Shares of Nikola Corp. NKLA dropped more than 4% in the aftermarket Thursday after the electric-truck maker said that shareholders approved the company’s plan to increase the number of its shares. It took Nikola several tries to pass that, most recently early last month when it adjourned its shareholder meeting to have another go at it on Thursday. Chief Executive Michael Lohscheller said in a statement that the plan is “critical for continued growth and success as we move forward with our strategic priorities,” including the recent launch of a hydrogen fuel-cell electric vehicle. Shares of Nikola ended the regular trading day up 12%.

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