Nikola shares are trading lower after the company announced the voluntary recall of more than 200 vehicles.
Portfolio Pulse from Benzinga Newsdesk
Nikola Corporation has announced a voluntary recall of over 200 vehicles, causing its shares to trade lower.
August 14, 2023 | 1:29 pm
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NEGATIVE IMPACT
Nikola Corporation's stock price is trading lower due to the announced recall of over 200 vehicles.
The recall of vehicles often leads to increased costs for the company, both in terms of the direct costs of the recall and potential damage to the brand's reputation. This can lead to a decrease in investor confidence, which is likely causing the drop in Nikola's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100