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Nikola Corp. shares have nearly doubled this week in a rally that’s eating into paper profits for traders betting against the EV maker and setting them up for a short squeeze.

Nikola Corp. founder Trevor Milton called for leadership change at the electric truck maker and urged shareholders to vote against upcoming company-backed proposals.

Nikola’s bid to issue more shares and obtain enough funding needed for its Class 8 hydrogen fuel cell truck ambitions is on hold for another month, it said June 7.

PGT Trucking announced it had delivered its inaugural shipment of low-greenhouse-gas steel, produced by steel manufacturer Nucor, using a Nikola Class 8 zero-emission vehicle.

Nikola Corp. tumbled May 25 after Nasdaq Inc. notified the company that it isn’t in compliance with the minimum bid requirements to remain listed on the exchange.

Nikola Corp. is set to pause battery-electric truck production at its Coolidge, Ariz., facility by the end of May ahead of a pivot in its operations to hydrogen fuel cell vehicles, the company said.

Two Nikola semis are to take part in a commercial vehicle demonstration program in the Canadian province of Alberta, the truck manufacturer said April 25.

Nikola Corp. plans to raise $100 million from a secondary stock offering to the public at $1.12 per share, the company announced March 30.

If electric vehicle company Nikola can get its hydrogen fuel cell trucks and filling station network operable, the company could pull in hundreds of millions a year from federal incentives.

Nikola Corp. posted an earnings loss amid efforts to expand the business during the fourth quarter of 2022, the company reported Feb. 23.