What's Going On With Nikola (NKLA) Shares
Portfolio Pulse from Henry Khederian
Nikola Corp (NKLA) shares are trading higher by 10.77% to $1.44, rebounding from Thursday's weakness. The rise is attributed to better-than-expected U.S. jobs data, which could raise concerns over further rate hikes. The stock's movement is also potentially in sympathy with Rivian Automotive Inc (RIVN) after Wedbush raised its price target on the stock from $25 to $30. Rising interest rates could increase borrowing costs for companies like Nikola, impacting their financial health.
July 07, 2023 | 6:13 pm
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POSITIVE IMPACT
Nikola's shares are trading higher due to positive U.S. jobs data and potential sympathy with Rivian. However, rising interest rates could increase borrowing costs, impacting Nikola's financial health.
The rise in NKLA shares is attributed to positive U.S. jobs data and potential sympathy with Rivian. However, rising interest rates could increase borrowing costs, which could negatively impact Nikola's financial health.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Rivian's stock price target was raised by Wedbush from $25 to $30, potentially influencing other EV stocks, including Nikola.
The increase in Rivian's stock price target by Wedbush could have a positive impact on other EV stocks, including Nikola, as investors may see this as a positive sign for the EV industry.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50