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Why Nikola Shares Soared Today

TheMotleyFool

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Nikola (NASDAQ: NKLA) shares popped nearly 7% Wednesday morning after an analyst gave several reasons to buy the stock. As of 11:15 a.m. ET, the stock was holding onto a gain of 5.4%.

Right now Nikola only sells battery-electric trucks. The company expects to sell between 300 and 500 of its Tre battery-powered semitrucks this year as it continues to ramp up production. It produced 50 vehicles in the second quarter. One analyst thinks what's coming next is the reason to buy Nikola stock.

Image source: Nikola.

Source Fool.com

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