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

U.S. equity indices were steady as traders reassessed interest rate cut expectations following comments from Fed Governor Christopher J. Waller. The U.S. GDP for Q4 was revised up to 3.4%, and gold reached new highs at $2,225 per ounce. Bitcoin rebounded beyond $70,700. The iShares Russell 2000 ETF outperformed large-cap indices. Stocks like Newmont Corp., Barrick Gold Corp., and Agnico Eagle Mines rallied with gold prices. Nikola Corp. surged on short squeeze rumors, and Estée Lauder rose after announcing a distribution deal with Amazon.

Portfolio Pulse from Piero Cingari

March 28, 2024 | 5:49 pm

Cocoa prices have surged to $10,000, a 240% increase from the previous year, affecting chocolate prices and outperforming Nvidia Corp (NASDAQ:NVDA) and Bitcoin (CRYPTO:BTC) in market performance. The rise is attributed to issues in West Africa, including illegal gold mining, climate change, and diseases affecting cocoa plants. This surge is expected to make chocolate a luxury item, with significant price increases anticipated. The article also compares the buying power of a ton of cocoa to shares of several companies, including NVDA, Tesla Inc. (NASDAQ:TSLA), Reddit Inc. (NASDAQ:RDDT), Gamestop Corp. (NYSE:GME), and Nikola Corp. (NASDAQ:NKLA).

Portfolio Pulse from Piero Cingari

March 28, 2024 | 5:29 pm

Nikola Corp (NASDAQ:NKLA) is potentially experiencing a short squeeze, indicated by a 20.6% short interest and significant Reddit discussions. Technical analysis shows a bullish trend despite some bearish signals, suggesting volatility. The stock is trading above key moving averages, with positive MACD and high RSI indicating overbought conditions. High volumes of call options purchases and increased trading volume support the potential for a short squeeze.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 4:26 pm

Nikola Corporation (NASDAQ:NKLA) shares have surged over 50% in the past five days, following the unveiling of its first commercial hydrogen fueling station in Alberta, Canada, and the inauguration of a HYLA hydrogen refueling station in Southern California. The stock has become a trending ticker on WallStreetBets, with 17.78% of shares sold short, contributing to significant price movements. Analysts use various methods for stock prediction, including technical analysis, with Nikola's 200-day moving average at $1.17, above its current price.

Portfolio Pulse from Erica Kollmann

March 28, 2024 | 4:11 pm

REX American Resources Corporation (NYSE:REX) reported quarterly GAAP earnings of $1.16 per share, surpassing estimates of 68 cents, causing its shares to jump 23.2% to $54.15. Other stocks also saw significant gains, including Avalo Therapeutics, Inc. (NASDAQ:AVTX) with a 430% increase after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing of up to $185 million. Various companies across different sectors recorded gains in their stock prices following positive earnings reports, acquisitions, and analyst upgrades.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 3:00 pm

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:23 pm

Nikola Corp, in collaboration with Blackjacks Roadhouse and others, unveiled Alberta's first commercial hydrogen fueling station, marking a significant step in developing hydrogen fuel infrastructure. The HYLA station is located in a high-traffic area and is part of Nikola's broader strategy to scale hydrogen-powered vehicles. Despite delivering 35 hydrogen FCEVs in Q4 and producing 138 trucks last year, Nikola reported a gross loss of $214.1 million for the period. The company's shares rose 11.7% following the announcement.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 4:03 am

In Monday's after-market session, several industrials stocks experienced significant movements. Notably, Earlyworks Co, ESGL Holdings, Hyliion Holdings, Dragonfly Energy Hldgs, Hydrofarm Holdings Group, and Tritium DCFC saw their stock prices increase, while noco-noco, Concrete Pumping Holdings, Polar Power, Applied UV, Addentax Group, and Nikola experienced declines. The movements reflect varying market capitalizations and investor reactions to company-specific news or broader market trends.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 9:32 pm

This week, Tesla faced challenges in China, Ford planned a reentry into India's EV market, and Canoo aimed to improve profitability. Tesla's production cut in China and SEC probe concerns, along with Ford's strategy to leverage India's new EV policy, and Canoo's designation as a Foreign Trade Zone were key events. Fisker sought financing to avoid bankruptcy, and BYD expanded into Greece. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader EV stock underperformance despite Tesla's slight gain.

Portfolio Pulse from Shanthi Rexaline

March 23, 2024 | 1:12 pm

Today's session highlighted significant options activity for industrials stocks, with notable trades for BA, LYFT, NKLA, ERJ, UPS, VRT, UAL, GE, SYM, and UBER. The activity ranged from bullish to bearish sentiments, involving both call and put options with varying expiration dates and strike prices. This options activity could indicate market expectations and potential trading opportunities based on the sentiments expressed through these large transactions.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:35 pm

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