What's Going On With Nikola Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation (NASDAQ:NKLA) has announced an agreement with J.B. Hunt Transport, Inc. (NASDAQ:JBHT) for the purchase of 13 Nikola zero-emission Class 8 EV trucks. The order includes 10 battery-electric and three hydrogen fuel cell vehicles, with the first deliveries expected in August. Following the announcement, NKLA shares rose by over 20% on heavy trading volume. Nikola will release its Q2 financial results on Friday.
July 31, 2023 | 2:48 pm
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POSITIVE IMPACT
Nikola's shares rose significantly following the announcement of the deal with J.B. Hunt. The company's Q2 financial results are due on Friday.
The deal with J.B. Hunt is a significant development for Nikola, indicating market acceptance of its zero-emission trucks. This, coupled with the anticipation of the Q2 results, has led to a surge in the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
J.B. Hunt has entered into an agreement to purchase 13 zero-emission trucks from Nikola.
The purchase of the trucks from Nikola is a positive development for J.B. Hunt, showing its commitment to sustainable transport. However, the impact on its stock is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60