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Once-deemed Tesla Semi rival Nikola faces potential delisting from NASDAQ

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Nikola Corp, once considered a potential rival for the Tesla Semi with its supposed hydrogen-powered trucks, is facing potential delisting from Nasdaq after its share price fell below the exchange’s minimum bid price requirements. Nikola’s shares fell 20% on Thursday, closing at 62 cents per share, marking an all-time low.

The company announced this development in a Form 8-K filed with the United States Securities and Exchange Commission (SEC). According to the filing, Nasdaq mandates listed securities to maintain a closing minimum bid price of $1 per share. Unfortunately, Nikola has failed to meet this requirement for over 30 consecutive business days.

“On May 24, 2023, Nikola Corporation received written notice from The Nasdaq Stock Market LLC notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on Nasdaq. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum closing bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum closing bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common stock for the 30 consecutive business days prior to the date of the Notification Letter, the Company does not currently meet the minimum closing bid price requirement,” Nikola stated in its filing.

Given the situation, Nikola has until November 20, 2023, to regain compliance with Nasdaq’s requirements. To achieve this, NKLA shares would need to close at a price of at least $1 for a minimum of 10 consecutive business days. Rebuilding investor confidence would be crucial for the company to accomplish this goal.

While Nikola was once a soaring stock, the company has been plagued by controversies, including allegations that its founder made false and misleading statements about its technology and business prospects. These allegations encompass serious misrepresentations regarding the Nikola One, a supposed hydrogen-powered truck featured in a marketing video that was later revealed to be staged.

As highlighted in a report by Yahoo Finance, even if Nikola manages to avoid delisting from Nasdaq, the company still faces significant challenges, particularly with the ramp of the Nikola Tre, an electric truck that directly competes with the Tesla Semi, which is already seeing initial production. If Nikola were to be delisted from Nasdaq, it would be a significant setback. Delisting would not only make it more challenging for the company to raise capital and attract new customers but could also inflict further damage to Nikola’s reputation.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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It’s official: SpaceX takes aim at Verizon, AT&T, and T-Mobile

SpaceX is buying 800 MHz spectrum from Grain to turn Starlink Mobile into a carrier.

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Starlink D2D direct to device vs Verizon, AT&T (Concept render by Grok)

SpaceX has agreed to buy a nationwide block of low band wireless spectrum, a deal the company says will let Starlink Mobile operate as a full US carrier rather than a satellite add-on for someone else’s network.

The company announced the agreement on X on Thursday afternoon, saying it will “pave the way for @Starlink to become a major mobile carrier in the US.” The seller is Grain Management, a private investment firm that confirmed in a statement that SpaceX will acquire 100% of its nationwide 800 MHz portfolio. That covers up to 14 MHz of paired spectrum in the 817 to 824 MHz and 862 to 869 MHz bands. Neither side disclosed a price, and the deal still needs FCC approval.

Grain only recently picked up the licenses itself. It bought the portfolio from T-Mobile in a transaction that closed in August, paying cash plus its own 600 MHz spectrum. Rival AST SpaceMobile had been testing satellites on the same bands before SpaceX stepped in.

SpaceX said its 2 GHz spectrum will handle high bandwidth capacity, while the new 800 MHz layer “ensures Starlink Mobile’s signal penetrates through obstacles, such as walls, and can provide service to customers’ devices even when they are in buildings.” The company added that most existing phones already support the band, so customers would not need new hardware to use it.

That 2 GHz spectrum came from SpaceX’s EchoStar acquisition last year, which gave the company exclusive S band rights in the US and global Mobile Satellite Service licenses. The Grain spectrum is different in an important way: it is tailored for service from ground towers, not satellites. SpaceX said that combination would make Starlink Mobile “the first network operator to deploy both satellite and terrestrial spectrum.”

The announcement also follows a key regulatory win. Earlier this week, the FCC approved SpaceX’s plan to deploy 15,000 second generation Starlink Mobile satellites, which the company has said will carry up to 100 times the data density of the current system, as Teslarati previously reported.

Shares of AT&T, Verizon and T-Mobile fell in extended trading after the announcement. T-Mobile is currently SpaceX’s launch partner for Starlink Mobile in the US, which makes its position the most complicated of the three.

SpaceX has not been subtle about its plans. During the company’s August earnings call, President and COO Gwynne Shotwell said she expected Starlink Mobile to win over customers from the major carriers. “I anticipate us to be able to acquire quite a few of their customers because I think our service will be better,” she said, pointing to dead zone coverage and resilience during disasters. Shotwell also described plans for low cost cellular base stations that could pair with existing Starlink dishes.

SpaceX has targeted 2027 for deployment of its next generation Starlink Mobile satellites, with upgraded service expected by the end of that year. The FCC review of the Grain deal now determines when the terrestrial half of that network can come online.

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Trump presents Elon Musk with National Medal of Science, calls him “modern-day Thomas Edison”

Trump gave Elon Musk the National Medal of Science and compared him to Thomas Edison.

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Elon Musk holds the National Medal of Science alongside President Donald Trump at the “Science: A New Golden Age” summit in Washington on October 8, 2026.
Elon Musk holds the National Medal of Science alongside President Donald Trump at the “Science: A New Golden Age” summit in Washington on October 8, 2026.

Elon Musk now has the highest honor the U.S. government gives to scientists and engineers. President Donald Trump presented him with the National Medal of Science on Thursday at the White House’s “Science: A New Golden Age” summit, held at the Institute of Peace in Washington, according to the White House.

Trump called Musk a “national treasure” and “our modern-day Thomas Edison.” “Few Americans in history have done more to advance America’s national interest than Elon in one field after another,” the president said. He also described Musk as an “industrial titan, brilliant engineer and one of the greatest technology founders to ever live.”

The official citation credits Musk “for engineering achievements of extraordinary ambition and scale that have pushed the frontiers of space exploration, intelligent systems, communications, and beyond, renewing American technological leadership and opening a new chapter in American manufacturing.” Tesla is not named in it, but “intelligent systems” and “American manufacturing” cover a lot of ground that Tesla and the Terafab chip project occupy.

Google co-founder Sergey Brin, Nvidia CEO Jensen Huang and AMD CEO Lisa Su received the same medal. Microsoft CEO Satya Nadella and Dell Technologies CEO Michael Dell were given the National Medal of Technology and Innovation. It was the first time Trump has handed out either award in his two terms. As Teslarati noted when the list was first reported on Wednesday, the National Science Foundation says 529 people have received the Medal of Science since Congress created it in 1959.


The ceremony closes a loop that opened in 2025, when Musk left DOGE and criticized the “Big Beautiful Bill,” sparking a public feud. Al Jazeera noted that Musk was the largest contributor to Trump’s 2024 campaign, and CNBC reported that all of the honorees have given financially to Trump or Republican causes in some form. The reconciliation has moved quickly in recent weeks. Musk sat at Trump’s left at the September 29 White House AI lunch, was named to help lead the Pentagon’s Project Meridian study on the future of warfare, and adopted the administration’s “super intelligence” wording when he said SpaceXAI will become SpaceXSI.

For Tesla and SpaceX shareholders, the practical question is what the closer relationship means for federal approvals. Tesla’s Robotaxi and Cybercab expansion depends on national autonomy rules, and SpaceX’s Starship and Starlink plans run through the FAA, FCC and NASA. Thursday’s ceremony did not change any of that directly.

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Elon Musk’s Boring Company lands a new Middle East deal, and Nashville is about to get faster

The Boring Company signs Abu Dhabi tunnel agreement while adding more Prufrock machines in Nashville.

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the-boring-company-tesla-robotaxi

The Boring Company has signed an agreement with Abu Dhabi to study underground transport and utility tunnels across the emirate, adding a second UAE city to its pipeline as it prepares to also scale up tunneling back home in Nashville.

The deal was signed Thursday at the Liveability and Investment Exhibition (LIVEX 2026) by Boring Company President Steve Davis and Maysarah Mahmoud Salim Eid, director general of the Abu Dhabi Projects and Infrastructure Centre (ADPIC), according to the Abu Dhabi Media Office. Mohamed Ali Al Shorafa, chairman of the emirate’s Department of Municipalities and Transport, attended the signing.

Under the agreement, the two sides will assess feasibility, delivery and operating models for tunnels that could carry passengers or utilities. They will also look at Abu Dhabi’s potential as a regional hub for tunneling work. The current phase is exploratory, and no construction commitment or project budget has been announced.

“Abu Dhabi provides an ideal environment to explore the next generation of underground infrastructure solutions, supported by its ambitious growth vision and strong commitment to advanced technologies,”

Davis said. He added that the company wants to assess how tunnels can “expand urban capacity more efficiently, and enable better use of available space.”

The timing lines up with the money, considering last month, The Boring Company closed a $3 billion Series D led by the UAE and affiliated investors, valuing the company at $23 billion, as Teslarati reported. That round came with a commitment to build more than 150 kilometers of tunnel across the UAE, separate from the Dubai Loop pilot already under contract with Dubai’s Roads and Transport Authority. That pilot covers 6.4 kilometers and four stations linking DIFC and Dubai Mall at a cost of about $154 million.

Back home, The Boring Company projects in Nashville are also scaling up, with the company telling local NewsChannel 5 that a third Prufrock machine could start digging the Music City Loop in late October. A fourth is also targeted before the end of the year. Two machines are already mining Nashville limestone at the same time, and work is underway on a new launch site for the third.

The company said it has made more than 300 design and performance upgrades to its original Nashville machine. It is also working with property owners on more than 40 planned stations, with approvals in place for a future Nashville International Airport connection, a downtown station near the Music City Center, and stops at residential towers and the JW Marriott.

Construction on the Music City Loop began the same evening Tennessee and federal regulators approved the project’s lease in February, and the company targeted its first operational segment for late 2026. Back in Las Vegas, The Boring Company has said it plans to double its Vegas Loop station count by year’s end.

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