What's Going On With Nikola Corporation Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation (NASDAQ:NKLA) shares are trading lower on above-average volume following the company's Q2 financial results and the stepping down of CEO Michael Lohscheller due to a family health matter. The company reported revenue of $15.36 million and a loss of 20 cents per share. Board chairman, Steve Girsky, has assumed the role of CEO. NKLA has also seen significant interest from short-sellers with 17.62% of shares currently being sold short.
August 08, 2023 | 3:20 pm
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Nikola Corporation's stock is trading lower following Q2 results and CEO's departure. The company has also attracted significant interest from short-sellers.
The company's Q2 financial results, which included a loss, and the departure of the CEO are likely contributing to the lower trading of NKLA shares. Additionally, the high interest from short-sellers, who bet on the stock's price to fall, is also a negative signal for the stock.
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