Electric truck manufacturer Nikola (NASDAQ: NKLA) went public with fanfare and a tank full of hope fuel. Those days are in the rearview mirror now, though, as the heady days of EV hype and pandemic panic-buying have given way to fear and loathing of publicly listed businesses perceived to have zombie-like characteristics.

Zombie or not, Nikola is unfortunately a member of the never-been-profitable club, and, as I'll touch upon momentarily, the automaker's capital position isn't ideal. Perhaps this didn't matter much when Wall Street favored Nikola for a hot minute, but the recovery prospects aren't stellar.

In June 2020, the conditions were right for Nikola stock to zoom to $66, albeit only for a brief moment. EV start-ups were the toast of the town, and truck electrification felt like a fresh idea with seemingly infinite profit potential.

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Source Fool.com