Why Nikola Stock Was Higher Today
Shares of embattled electric truck start-up Nikola (NASDAQ: NKLA) were trading higher on Thursday afternoon, following the publication of a Bloomberg article that took a sober look at the company's prospects after a difficult 2020.
As of 3:30 p.m. EST, Nikola's shares were up about 6.4% from Wednesday's closing price.
Nikola had a rough 2020. Its stock soared last summer after it went public in one of the first of a wave of electric vehicle SPAC (special purpose acquisition company) merger deals. But the stock fell back to earth after a short-seller accused the company and founder Trevor Milton of exaggerating the state of its technology and misleading investors in September. Worse, the accusations had enough credibility to trigger federal investigations, drive away some potential key partners, and force Milton's departure.
Source Fool.com
