What's Going On With Nikola Stock?
Portfolio Pulse from Adam Eckert
Nikola Corp's shares are trading higher after a significant drop on Friday due to mixed Q2 results and an abrupt CEO transition. The company reported Q2 revenue of $15.36 million, missing estimates of $15.43 million, but beat loss per share estimates. Nikola delivered 45 vehicles via wholesale and 66 vehicles via retail in Q2. CEO Michael Lohscheller stepped down due to a family health matter, with board chairman Steve Girsky assuming the role.
August 07, 2023 | 1:33 pm
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Nikola Corp's shares are trading higher after a significant drop due to mixed Q2 results and CEO transition. The company missed revenue estimates but beat loss per share estimates.
The mixed Q2 results and CEO transition caused a significant drop in Nikola Corp's shares. However, the shares are rebounding, indicating investor confidence despite the missed revenue estimates. The beat on loss per share estimates also contributes to the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100