Why Nikola Dropped 5% Today
Shares of electric-truck maker Nikola (NASDAQ: NKLA) declined 5% on Thursday, as of 1:20 p.m. EST. The drop is a fitting end to a troubled year for the company.
The stock has been in a general downtrend over the last month after an agreement with General Motors was announced and was a much smaller deal than had originally been indicated. Shares took another hit last week after Nikola said it was backing out of a deal for an electric garbage-truck fleet for Republic Services.
So what does that have to do with today's drop? It's likely that some financial managers are getting it out of their portfolios for the end of the year.
Source Fool.com
