What's Going On With Nikola Corporation Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation's (NASDAQ:NKLA) shares are trading lower, with a decrease of over 60% in the last month. This follows a report of a third incident where the lithium-ion cell battery of a Nikola electric vehicle caught fire. The company had previously recalled approximately 209 Class 8 Tre battery-electric vehicles due to fire risk and postponed all new BEV sales until the issues were resolved. Currently, 19.42% of available NKLA shares are being sold short.
September 08, 2023 | 2:38 pm
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Nikola Corporation's stock is trading lower due to repeated incidents of their electric vehicle's battery catching fire. The company's decision to recall vehicles and halt new BEV sales has negatively impacted the stock price.
The repeated incidents of Nikola's electric vehicle batteries catching fire have raised safety concerns, leading to a recall of vehicles and a halt in new BEV sales. This has negatively impacted investor confidence, leading to a decrease in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100