Here's Why Nikola Stock Is Rising Again Today
Shares of Nikola (NASDAQ: NKLA) continued to move higher today after a 10% bounce on Thursday. Shares jumped 6% on Friday before settling back to a gain of 2.2% as of 10:30 a.m. EST.
The stock is getting a tailwind from the general belief that the Biden administration will support green energy, which could aid the buildout of the battery-charging and hydrogen-fueling infrastructure that Nikola's trucks will need.
Nikola's Arizona factory is under construction, and the company announced a utility agreement yesterday, signaling progress on the project. Today, a J.P. Morgan analyst commented that Nikola is in fact commissioning several of its Tre battery-electric semi trucks in Arizona.
Source Fool.com
