Is Nikola Stock a Buy After Today's News?
Electric heavy truck maker Nikola (NASDAQ: NKLA) pivoted last year to focus on hydrogen-fuel-cell electric vehicles (FCEVs). While the company still plans to produce battery electric heavy trucks for customer orders, its future really depends on the growth of the hydrogen powered trucks.
Today, Nikola stock jumped by as much as nearly 16% on news that it produced 43 of the Class 8 FCEVs and sold 40 of them to wholesalers destined for end customers in the first quarter. Those deliveries were on top of the 35 trucks shipped in the fourth quarter of 2023 in its first quarterly production period.
Source Fool.com
