What's Going On With Nikola Stock Today?
Portfolio Pulse from Erica Kollmann
Nikola Corporation (NASDAQ:NKLA) announced a voluntary recall of 209 of its Class 8 Tre battery-electric vehicles due to a coolant leak, which was also the probable cause of a fire near the Nikola headquarters in July. The company is filing this recall with the National Highway Traffic Safety Administration (NHTSA) and has put a temporary hold on new BEV sales. Despite a recent slide, Nikola shares are trading 2% higher at $1.85.
August 15, 2023 | 3:57 pm
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Nikola Corporation has recalled 209 vehicles due to a coolant leak and has temporarily halted new BEV sales. Despite this, shares are trading 2% higher.
The recall of vehicles and halt in new BEV sales could potentially harm Nikola's reputation and financial performance. However, the stock is currently trading higher, indicating that investors may be focusing on other factors or that the impact of the recall has already been priced in.
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IMPORTANCE 80
RELEVANCE 100