What's Going On With Nikola Stock Tuesday?
Portfolio Pulse from Adam Eckert
Nikola Corp (NASDAQ:NKLA) shares are trading higher after the company announced it sold more trucks than expected in the second quarter. Nikola wholesaled 72 Class 8 hydrogen fuel cell trucks, surpassing its guidance of 60 units. The company has sold a total of 112 trucks in the first half of the year. This news comes after a significant drop in Nikola's stock price following a reverse stock split to comply with Nasdaq rules.
July 02, 2024 | 1:28 pm
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Nikola Corp shares are trading higher after the company announced it sold more trucks than expected in the second quarter. The company wholesaled 72 Class 8 hydrogen fuel cell trucks, surpassing its guidance of 60 units. This positive sales update comes after a significant drop in Nikola's stock price following a reverse stock split.
The announcement of higher-than-expected truck sales is a positive indicator for Nikola's business performance, likely boosting investor confidence in the short term. This news comes after a significant drop in stock price due to a reverse stock split, which may have initially caused investor concern.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100