Why Nikola Stock Popped Today but Then Dropped
Nikola (NASDAQ: NKLA) shares went on a wild ride Thursday, jumping 4.5% in the morning after the electric and hydrogen fuel cell truck maker sealed a deal. But it gave up all of those gains, and some, as the day progressed. As of 1:25 p.m. EDT, the stock was trading 1.4% in the red.
This morning, Nikola announced a deal with PGT Trucking, one of the nation's largest flatbed carriers. Nikola has signed a letter of intent to lease 100 of its Tre fuel cell trucks to PGT after a demonstration, the terms and timing of which are yet to be decided.
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Source Fool.com
