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

Trevor Milton, the founder of Nikola Corporation, has been sentenced to four years in prison following his conviction on fraud charges. The sentencing is a significant development for the company, which has faced scrutiny over its business practices and Milton's representations to investors.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 6:38 pm

The anticipated Santa Claus rally may be underwhelming this year due to the subpar performance of major tech stocks, the outperformance of small-caps, and rallies in unprofitable tech companies, heavily shorted stocks, companies with weak balance sheets, SPACs, and cryptocurrencies. The Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY) saw modest gains, while Nikola Corp. (NKLA) and Carvana Co. (CVRN) surged despite fundamental challenges.

Portfolio Pulse from Shanthi Rexaline

December 18, 2023 | 11:18 am

Industrial stocks are experiencing an uptick following the Federal Reserve's decision to keep interest rates unchanged. The market's positive reaction is also fueled by expectations of potential future rate cuts as indicated by the majority of Fed officials.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:51 pm

A significant number of Nikola Corporation put options were traded at the bid price. Specifically, 25,000 contracts for January 19th $2 puts were purchased at $1.29 each, compared to an open interest of 78,302 contracts. This activity occurred with Nikola's stock reference price at $0.7256.

Portfolio Pulse from Charles Gross

December 13, 2023 | 6:31 pm

Prosecutors are seeking an 11-year prison sentence for Trevor Milton, the founder of Nikola Corp (NASDAQ:NKLA), after he was found guilty of fraud. Milton's sentencing is scheduled for Dec. 18, following a conviction on charges of wire fraud and securities fraud related to misleading investor statements about the company's technology. Milton's lawyers argue for probation, citing no malicious intent and distinguishing Nikola from the Theranos case. Nikola's market cap has significantly decreased from its peak in June 2020.

Portfolio Pulse from Anan Ashraf

December 13, 2023 | 7:07 am

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm

Nikola Corporation (NASDAQ:NKLA) has priced its offerings of 133,333,334 common shares at $0.75 each and $175 million in 8.25% Green Convertible Senior Notes due 2026. Both offerings are set to settle on December 12, 2023, with each offering's completion independent of the other.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:15 am

Methode Electronics, Inc. (NYSE:MEI) shares dropped over 14% due to weaker-than-expected quarterly earnings, with adjusted EPS of 6 cents versus the estimated 12 cents, and sales of $288 million against the forecasted $292.82 million. Other stocks experienced significant movements in Thursday's mid-day session, with notable gainers including Save Foods, Inc. (NASDAQ:SVFD), Cyngn Inc. (NASDAQ:CYN), and Barnes & Noble Education, Inc. (NYSE:BNED), among others. Losers included Troika Media Group, Inc. (NASDAQ:TRKA), Phio Pharmaceuticals Corp. (NASDAQ:PHIO), and Bit Brother Limited (NASDAQ:BETS).

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 6:13 pm

In Thursday's intraday session, several industrial stocks experienced significant movements. Satellogic (SATL) saw a 33.1% increase, while Nikola (NKLA) dropped by 18.1%. Other notable gainers include Shengfeng Development (SFWL), Electriq Power Holdings (ELIQ), BioNexus Gene Lab (BGLC), Complete Solaria (CSLR), and JetBlue Airways (JBLU). On the losing side, Primech Holdings (PMEC), Baiyu Holdings (BYU), Liquidity Services (LQDT), Argan (AGX), and ATIF Holdings (ATIF) saw declines, with LQDT and AGX recently releasing their Q4 and Q3 earnings, respectively.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:31 pm

Nikola Corp (NYSE:NKLA) shares are plummeting after the company announced plans to offer $100 million of common stock and $200 million of green convertible senior notes due 2026. The offerings include options for underwriters to purchase additional shares and notes. Proceeds from the stock offering will be used for working capital and general corporate purposes, while proceeds from the notes will fund eligible projects. Despite tripling its unrestricted cash since Q1, Nikola's stock has dropped over 54% in 2023 and was down 20.6% to 78 cents.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:15 pm

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