What's Going On With Nikola Corporation Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation reported its Q3 financial results, with adjusted losses of 30 cents per share, missing the analyst consensus estimate of losses of 14 cents per share. The company also reported quarterly revenue of $(1.73) million. Nikola anticipates increased costs associated with its ongoing battery electric truck recall, leading to an additional capital requirement of approximately $400 million. Despite the losses, the company's shares are trading higher.
November 03, 2023 | 4:19 pm
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Nikola Corporation reported higher than expected losses for Q3 and anticipates increased costs due to an ongoing recall. Despite this, shares are trading higher.
Nikola Corporation reported higher than expected losses for Q3, which would typically negatively impact the stock price. However, the company's shares are trading higher, possibly due to other factors not mentioned in the article, such as market sentiment or future growth prospects. The ongoing recall could lead to increased costs and additional capital requirements, which could impact the company's financial health and stock price in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100