An Arizona-based company that manufactures electric trucks has filed for bankruptcy. Here's what to know about Nikola, and what could happen next.

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Nikola (NKLA), once valued at around $30 billion, filed for bankruptcy. The news was not unexpected, given Nikola’s cash burn and dilutive shares sales, which were just unsustainable. Things reached a point where Nikola’s market cap fell below its quarterly cash burn.