Why Nikola Stock Crashed Today
Nikola (NASDAQ: NKLA) stock tanked more than 10% this morning after it released its third-quarter update. It's not because the business isn't accomplishing its near-term goals. The company has begun to accelerate sales of its hydrogen fuel cell electric trucks.
But there were some specific items in the report that have investors selling Nikola stock today. It recovered some of the early losses, but shares were still lower by 7.1% as of 11:50 a.m. ET.
It's no secret that Nikola has been losing money. It has had to initiate multiple capital raising events in the last year. That's a big reason why the stock has dropped 85% so far in 2024.
Source Fool.com
