What's Going On With Nikola Corporation Stock?
Portfolio Pulse from Henry Khederian
Nikola Corporation (NASDAQ:NKLA) stock has risen 8% to $1.11 over the past five sessions after a disappointing earnings report earlier this month. The company reported a gross loss of $125.5 million, an expanded EBITDA loss of $188.6 million, and an adjusted EPS loss of 30 cents, missing consensus estimates. Despite receiving orders for 324 trucks, production issues led to only 3 truck shipments in the quarter. Nikola also faces increased expenses due to a truck recall and aims to achieve profitability by 2025. Nikola shares were also affected by Plug Power Inc's (NASDAQ:PLUG) worse-than-expected Q3 financial results, which led to volatility in the hydrogen industry stocks.
November 15, 2023 | 4:09 pm
News sentiment analysis
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NEGATIVE IMPACT
Plug Power Inc's worse-than-expected Q3 financial results have caused volatility in Nikola's shares and may impact investor sentiment in the hydrogen industry.
Investor sentiment in the hydrogen industry is interconnected, and negative news from Plug Power has led to broader sell-offs, potentially impacting Nikola's stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nikola Corporation's stock has seen a short-term increase following its earnings report, despite reporting significant losses and production issues.
The stock price has increased, indicating a positive short-term investor reaction to the earnings report and future profitability goals. However, the reported losses and production issues could pose risks to sustained growth.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100