Nikola Stock Is Rocketing Higher Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Nikola Corp (NASDAQ:NKLA) announced a strategic supply agreement with BayoTech for hydrogen supply for commercial fuel cell electric vehicle fleets. The agreement includes Nikola Class 8 hydrogen fuel cell electric trucks and BayoTech HyFill bulk hydrogen transport trailers. Nikola plans to acquire up to ten of BayoTech's transport trailers and BayoTech will purchase up to 50 Nikola Class 8 fuel cell EVs over the next five years. Nikola's stock price surged by 48.2% following the announcement.
July 13, 2023 | 5:35 pm
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Nikola's strategic partnership with BayoTech for hydrogen supply is expected to boost its commercial fuel cell electric vehicle fleets. The stock price surged by 48.2% following the announcement.
The strategic partnership with BayoTech is a significant development for Nikola as it will enhance its hydrogen supply for commercial fuel cell electric vehicle fleets. This is likely to boost investor confidence in the company's growth prospects, leading to a surge in the stock price.
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