Why Nikola Stock Jumped Friday
Management at electric truck start-up Nikola (NASDAQ: NKLA) has been working over the past year to recoup some of the investor trust it lost after company founder Trevor Milton was forced to resign as chairman and was subsequently charged with investor fraud. Current management took a big step in that direction Friday when it confirmed that it had delivered its first battery-electric vehicles to a customer. While the tech-heavy Nasdaq index ended the day virtually flat, Nikola outperformed, ending the session up by 7.1% after having been up by more than 10% earlier.
Earlier in 2021, the company told investors it would begin shipping its battery-electric semi trucks before the end of the year. Friday, the company announced it had made good on that prediction.
Nikola Tre BEV in testing. Image source: Nikola.
Source Fool.com
