Why Nikola Shares Charged Higher Today
Nikola (NASDAQ: NKLA) announced some news that has its stock popping today. As of 12:40 p.m. ET, the stock of the electric heavy truck maker was near the day's highs, up by 13.1%.
While that's good news for shareholders, the stock is still sitting below $1 per share after dropping more than 40% over the last three months. But today's news is what might help this company rebound.
Even after that huge drop, Nikola has a market cap of more than $860 million. While that may sound like a lot for a money-losing company, it's down from nearly $12 billion at its peak three years ago. The excitement that led to that lofty stock price, and what has kept the company close to a $1 billion valuation, is the potential it has to lead a change for a portion of the heavy trucking industry.
Source Fool.com
