Where Will Nikola Corporation Stock Be in 1 Year?
Nikola (NASDAQ: NKLA) initially impressed the bulls when it went public by merging with a special purpose acquisition company (SPAC) on June 3, 2020. The electric-semitruck maker's stock started trading at $37.55 on its first day as a combined company and more than doubled to its all-time high of $79.73 just six trading sessions later.
At its peak, Nikola had an enterprise value of $28.7 billion, even though it hadn't shipped a single vehicle yet. Instead, it was being valued based entirely on the ambitious production targets it set during its pre-merger presentation in March 2020.
Image source: Nikola.
Source Fool.com
