What's Going On With Nikola (NKLA) Shares
Portfolio Pulse from Henry Khederian
Nikola Corp (NASDAQ:NKLA) shares are trading lower by 6.29% amid overall market weakness on concerns over further rate hikes. The company has rallied 148% over the past month after regaining Nasdaq listing compliance. However, higher interest rates could exacerbate cost differentials, making hydrogen electric vehicles less attractive due to potentially higher financing costs, which could impact the demand for Nikola's vehicles.
July 06, 2023 | 7:12 pm
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Nikola Corp's shares are trading lower due to concerns over further rate hikes. Higher interest rates could make their hydrogen electric vehicles less attractive, potentially impacting demand.
The stock price of Nikola Corp is being negatively impacted by the overall market weakness due to concerns over further rate hikes. Higher interest rates could increase the financing costs for hydrogen electric vehicles, making them less attractive to consumers and potentially reducing the demand for Nikola's vehicles.
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