Why Nikola Stock Jumped 40% in March
Nikola (NASDAQ: NKLA) stock has rebounded dramatically in recent weeks after a muted start to the year. The electric vehicle (EV) stock gained 39.8% value in March alone, according to data provided by S&P Global Market Intelligence.
After recalling its battery-electric vehicles (BEVs) last year, Nikola is now focusing on hydrogen fuel cell heavy trucks and has already started producing and delivering them, giving investors a reason to buy the languishing stock.
Nikola stock made the biggest move last month in the latter half. That's also when the EV maker celebrated the opening of its first-ever hydrogen refueling station, in Southern California. The Hyla-brand station in Ontario will be able to fuel up to 40 Nikola hydrogen fuel-cell electric Class 8 trucks daily. In March, Nikola also unveiled Alberta's first commercial refueling station in collaboration with several partners
Source Fool.com
