What's Going On With Nikola (NKLA) Shares
Portfolio Pulse from Henry Khederian
Nikola Corp (NASDAQ:NKLA) shares are trading higher by 15% to $1.61 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, which may benefit EV makers like Nikola.
June 16, 2023 | 2:13 pm
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Nikola shares are up 15% after shareholders rejected a proposal to issue more stock shares and the IEA predicted a peak in global oil demand before the end of the decade.
Nikola's stock price is up due to two main factors: shareholders rejecting the proposal to issue more stock shares, which prevents dilution of existing shares, and the IEA's prediction of a peak in global oil demand before the end of the decade, which could benefit EV makers like Nikola as consumers shift towards cleaner technologies.
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