Why Nikola Stock Is Jumping This Week
Electric truck maker Nikola (NASDAQ: NKLA) continues to work to grow its business, and it announced some new progress this week. That led to a jump in the stock price. As of early Friday morning, Nikola shares were 10.5% above last Friday's closing price, according to data provided by S&P Global Market Intelligence.
However, that bump higher still didn't do much to offset the huge decline the stock has had this year. Nikola shares have dropped by about 84% year to date, even as the company begins to accelerate sales of its hydrogen fuel cell electric trucks.
Yet this week's news of an agreement between Nikola, global beverage company , and logistics provider DHL Supply Chain to deploy two new Nikola hydrogen trucks in Illinois is still notable progress for the electric truckmaker. DHL Supply Chain is a division of DHL Group, and a longtime logistics contract partner for Diageo's North American operations.
Source Fool.com
