Why Nikola Stock Jumped, Then Dropped Today
Shares of Nikola (NASDAQ: NKLA) were up more than 5% Tuesday morning before giving up some of those gains. As of 2:15 p.m. EST, the stock had gained about 2.5%.
The early jump wasn't just from typical volatility in the controversial name, though.
Though Nikola's first production vehicle is slated to be the battery-electric Tre semi truck, the long-term investing thesis for Nikola will require success with its hydrogen fuel cell-powered Two model as well. Last Friday, the U.S. Department of Energy (DOE) announced plans of federal funding for hydrogen fuel technology development.
Source Fool.com
