Streetbeat News

NKLA

Nikola Corporation

https://www.nikolamotor.com

Industry

Agricultural - Machinery

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector. The Energy business unit develops and constructs a network of hydrogen fueling stations; and offers BEV charging solutions for its FCEV and BEV customers, as well as other third-party customers. The company also assembles, integrates, and commissions its vehicles in collaboration with its business partners and suppliers. Nikola Corporation is headquartered in Phoenix, Arizona.

Open

2.53

Mkt cap

142M

Volume

8.5M

High

2.57

P/E Ratio

-0.24

52-wk high

34.50

Low

2.32

Div yield

N/A

52-wk low

2.16

Tesla faced a challenging week with job cuts, price reductions, and lowered analyst expectations, impacting its stock negatively. Rivian also announced job cuts due to the industry slowdown. Canoo received a 'Buy' rating from Benchmark, while Lucid showcased its 2024 Air Grand Touring with the longest range among US EVs. Fisker announced new dealer partnerships amid bankruptcy concerns. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader market trends and specific company issues in the EV sector.

Portfolio Pulse from Shanthi Rexaline

April 20, 2024 | 1:33 pm

Nikola Corporation's (NASDAQ:NKLA) stock has declined over 33% in the past five days following allegations of fraudulent conduct by its management and certain directors by M&M Residual. The company is expected to report Q1 financial results on May 7, with anticipated losses of 10 cents per share and revenue of $14.235 million. The stock's current price is below its 200-day moving average, indicating a bearish signal according to some investors.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 4:32 pm

JPMorgan Chase & Co. shares fell by 5.1% despite beating first-quarter earnings and revenue expectations, with other stocks experiencing significant movements in Friday's mid-day session. Notable gainers include PaxMedica, EZGO Technologies, and Allarity Therapeutics, among others, with various reasons for their stock movements. Conversely, several companies faced declines, such as Motus GI Holdings, Lixiang Education, and Monogram Orthopaedics, each with specific challenges impacting their stock prices.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 6:47 pm

Argan, Inc. reported better-than-expected fourth quarter earnings, leading to a 21.5% rise in its stock price. Other stocks like Globe Life, Lyell Immunopharma, and AMTD Digital also saw significant gains amid various market activities. Coupang announced a membership fee increase, contributing to a 10.3% stock price rise. Clean Energy Fuels and other companies are expected to release financial results soon, influencing their stock movements.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 2:19 pm

On Thursday, major U.S. stock market indexes closed higher, with notable movements in shares of Apple, Rivian, Amazon, Nikola, and Tesla. Apple's stock rose by 4.33% amid news of a Mac line overhaul and the development of the M4 processor. Rivian's shares fell to a new all-time low, dropping by 6.82% due to concerns about the company's future. Amazon's stock reached a new all-time high, increasing by 1.67%, as CEO Andy Jassy emphasized the company's focus on artificial intelligence. Nikola's shares plummeted by 26.73% following a Peer Perform rating from Wolfe Research, citing infrastructure and cost challenges. Tesla's stock increased by 1.65%, showing signs of recovery amidst market turbulence.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 2:04 am

Nikola Corp's shares are trading lower following the withdrawal of a nomination of directors by M&M Residual.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:40 pm

Stocks rebounded with the Nasdaq 100 leading gains, up 1.2%, driven by Nvidia's 3.1% surge. The Producer Price Index (PPI) inflation was slightly lower than expected, affecting Fed rate cut expectations. Treasury yields were mixed, impacting the iShares 20+ Year Treasury Bond ETF (TLT), which fell 0.2%. Gold, tracked by the SPDR Gold Trust (GLD), rose nearly 1%, while Bitcoin softened. Notable stock movements included Nike's 3.8% rise after an upgrade, Paramount Global's 6.5% rally, and significant drops for Globe Life, CarMax, and Nikola Corp. Vertex Pharmaceuticals announced a $4.9 billion deal to buy Alpine Immune Sciences.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 6:13 pm

Fastenal Company's shares dropped by around 7% due to disappointing Q1 FY24 financial results, with sales and EPS missing consensus estimates. Other stocks experienced significant movements, with Rallybio Corporation, Rent the Runway, and Eliem Therapeutics among the top gainers, while Aptevo Therapeutics, Enlivex Therapeutics, and AVITA Medical led the losers.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 5:33 pm

In Thursday's intraday session, several industrials stocks experienced significant movements. Notably, Globavend Holdings, NeoVolta, Velo3D, Earlyworks Co, American Rebel Holdings, and Flux Power Holdings saw gains, with increases ranging from 8.01% to 16.6%. Conversely, Laser Photonics, Nikola, Tritium DCFC, Caesarstone, Solidion Technology, and Energy Focus faced declines, with decreases ranging from 9.38% to 14.6%.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 4:31 pm

M&M Residual and Trevor R. Milton have withdrawn their nomination of directors for Nikola Corporation's Board, citing concerns over potential fraud and misconduct by the company's management and certain directors. They highlighted issues such as operational underperformance, product liability, and misleading public statements, which have led to significant stockholder value destruction. The company's recent undisclosed sale of the Nikola Badger and powersports program, and the handling of Nikola trucks catching fire, were specifically criticized. M&M Residual and Milton are considering legal action against Nikola's officers and directors, and have dissolved their previous group intending to solicit Nikola stockholders for the upcoming Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:35 pm

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