Why Nikola Stock Rose Tuesday
The stocks of several names that could benefit from infrastructure spending are rising today, including-electric vehicle start-up Nikola (NASDAQ: NKLA). As of 3:45 p.m. EDT, Nikola shares were up almost 3%, after having risen 5% higher earlier in the day.
Though no company-specific news was released today, President Biden has planned a meeting with Republican Sen. Shelley Moore Capito of West Virginia on Wednesday to discuss a potential infrastructure compromise. Though the two sides remain far apart in negotiations, investors were bidding renewable energy stocks higher today, in hopes that at least some of Biden's funds earmarked for renewable infrastructure will eventually be approved.
Source Fool.com
