Why Nikola Stock Soared Again Today
Nikola (NASDAQ: NKLA) shares have been on a roll recently. Stock of the electric semitruck maker have rocketed more than 50% higher over the last week. That includes a jump of more than 22% Monday morning. Shares backed off after that spike, but remained higher by 20.2% as of 10:30 a.m. ET.
Today's move comes after the company announced a new chief operating officer (COO) this morning. The appointment of Mary Chan to the COO role is one of CEO Steve Girsky's first major management decisions. Girsky took over as CEO in early August. Since that time, Nikola has had a major recall of its battery-electric trucks which kept investors wary of the company and its stock.
Girsky held a fireside chat and answered investor questions last week, however, and the stock has been soaring since. The new COO announcement seems to be stoking investor excitement further.
Source Fool.com
