What's Going On With Nikola (NKLA) Shares
Portfolio Pulse from Henry Khederian
Nikola Corp (NASDAQ:NKLA) shares are trading higher by 22.90% to $1.33 on heavy volume and amid overall market strength. The EV maker gained last week after shareholders rejected the company's proposal to issue more stock shares. The International Energy Agency predicts global oil demand could peak before the end of this decade, potentially benefiting EV makers like Nikola.
June 15, 2023 | 2:29 pm
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Nikola shares are up 22.90% as shareholders reject a proposal to issue more stock shares and the IEA predicts a peak in global oil demand, potentially benefiting EV makers.
Nikola's stock price is positively impacted by two factors: 1) Shareholders rejecting the proposal to issue more stock shares, which prevents dilution of existing shares, and 2) The International Energy Agency's prediction of a peak in global oil demand, which could accelerate the adoption of cleaner technologies like electric vehicles, benefiting companies like Nikola.
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