Why Nikola Stock Is Popping This Week
There have been several market dynamics influencing the stocks of electric vehicle makers this week. Some are company-specific, but others are macroeconomic and geopolitical. The end result has been a jump in shares of electric semi truck start-up Nikola (NASDAQ: NKLA). As of early Friday trading, Nikola stock was more than 15% higher for the week, according to data provided by S&P Global Market Intelligence.
This week's move in the share price brings Nikola's gains over the past two weeks to about 30%. Some of the same things that caused a surge in the stock last week continued to help this week. One additional bit of news was that the company is asking shareholders to approve an additional 200 million shares for the company to raise capital as it ramps up production of its electric trucks.
Source Fool.com
