Nikola Stock Is Charging: What's Going On?
Portfolio Pulse from Erica Kollmann
Nikola Corporation's shares are trading higher following an agreement with BayoTech for the purchase of up to 50 Nikola Class 8 fuel cell electric vehicles over the next five years. Nikola will also receive hydrogen from BayoTech's network of hubs and acquire up to ten of the company's transport trailers. The stock rose over 50% after the agreement was announced.
July 14, 2023 | 2:52 pm
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Nikola Corporation's stock is trading higher following a partnership with BayoTech. The deal includes the purchase of up to 50 electric vehicles and hydrogen supply, which led to a 50% rise in the stock price.
The partnership with BayoTech is a significant development for Nikola Corporation, as it includes the purchase of electric vehicles and hydrogen supply. This has led to increased investor confidence, resulting in a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100