What's Going On With Nikola (NKLA) Shares
Portfolio Pulse from Henry Khederian
Nikola Corp's shares are trading lower by 6.2% to $2.11, potentially due to ongoing profit-taking after a 43% rally over the past five sessions. The company recently announced an agreement with BayoTech for the acquisition of up to 50 Nikola Class 8 fuel cell electric vehicles over five years. Nikola will also access hydrogen through BayoTech's hub network and procure up to ten transport trailers.
July 17, 2023 | 2:32 pm
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Nikola Corp's shares are trading lower, potentially due to profit-taking after a recent rally. The company's new agreement with BayoTech could potentially boost its long-term prospects.
Nikola Corp's shares are trading lower, potentially due to profit-taking after a recent rally. However, the company's new agreement with BayoTech, which involves the acquisition of fuel cell electric vehicles and access to hydrogen, could potentially boost its long-term prospects by expanding its product offerings and improving its distribution efficiency.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100