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Why Nikola Stock Surged Today

TheMotleyFool

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Electric semi truck company Nikola (NASDAQ: NKLA) has had a turbulent young life. But at its presentation for analysts held yesterday, an announcement gave investors reason to get into its beaten-down stock. Shares popped nearly 20% early Thursday morning, and held gains of 9.1% as of 10:17 a.m. ET.

Last year, Nikola founder and former chairman Trevor Milton was ousted and has since been indicted on fraud charges. The company has distanced itself from that situation, but investors have long memories, and reestablishing trust is hard. Now Nikola has started commercial production, giving investors concrete evidence that its plans for battery and fuel-cell electric trucks are real.

Source Fool.com

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