Nikola Doubles Truck Deliveries In Q2, Stock Soars
Portfolio Pulse from Anusuya Lahiri
Nikola Corp (NASDAQ:NKLA) reported strong fiscal Q2 2024 results, doubling truck deliveries and beating analyst estimates on sales and EPS. The company produced 77 trucks and shipped 73, maintaining a dominant market share in California's HVIP vouchers. Despite a gross loss of $54.7 million, adjusted EBITDA loss improved. NKLA stock surged 14.70% following the news.
August 09, 2024 | 2:44 pm
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Nikola Corp reported strong Q2 2024 results, doubling truck deliveries and beating analyst estimates on sales and EPS. The company produced 77 trucks and shipped 73, maintaining a dominant market share in California's HVIP vouchers. Despite a gross loss of $54.7 million, adjusted EBITDA loss improved. NKLA stock surged 14.70% following the news.
Nikola's strong Q2 performance, including doubling truck deliveries and beating sales and EPS estimates, has positively impacted investor sentiment, leading to a 14.70% surge in stock price. The company's dominant market share in California's HVIP vouchers and improved adjusted EBITDA loss further bolster the positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100