What's Going On With Nikola Stock?
Portfolio Pulse from Adam Eckert
Nikola Corp (NASDAQ:NKLA) shares are trading lower after a surge on Monday following the announcement of a new chief operating officer, Mary Chan. Chan, who previously served as a managing partner at VectoIQ and as president and COO of VectoIQ Acquisition Corp, will lead several teams at Nikola, including engineering, program, product, supply chain, and manufacturing. Nikola's CEO, Steve Girsky, believes Chan's appointment will streamline decision-making processes and improve the company's engineering and manufacturing capabilities.
September 19, 2023 | 1:08 pm
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Nikola Corp's stock is trading lower after a surge following the announcement of a new COO. The new COO, Mary Chan, is expected to improve the company's engineering and manufacturing capabilities.
The appointment of a new COO usually signals a potential change in company strategy and operations, which can lead to uncertainty among investors. This uncertainty, coupled with the recent surge in Nikola's stock price, could be causing the current pullback in the stock's price.
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