What's Going On With EV-Maker Nikola's Stock?
Portfolio Pulse from Erica Kollmann
Nikola Corporation (NASDAQ:NKLA) shares rose 6% following the announcement of its Q1 production results, including the production and wholesaling of 43 and 40 Class 8 hydrogen fuel cell EVs, respectively. The company also began returning battery-electric trucks from a voluntary recall. Nikola plans to report its Q1 financial results on May 7, with expected losses of 10 cents per share and revenue of $14.235 million. The stock's movement is also discussed in the context of technical analysis and its current price action.
April 05, 2024 | 3:06 pm
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Nikola Corporation's stock rose 6% following positive Q1 production results and the commencement of returns for battery-electric trucks from a recall. The company anticipates reporting Q1 financial results with expected losses and revenue figures.
The positive production update and the commencement of returns for recalled trucks likely contributed to investor optimism, driving the stock price up. The anticipation of the Q1 financial results announcement may also influence investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100