Why Nikola Stock Was Highly Volatile Today
Shares of Nikola (NASDAQ: NKLA) saw huge gains early in Friday's trading thanks to a new deal, but then, nearly all of that surge evaporated. While the electric vehicle company's stock was at one point up by as much as 32.9%, according to data from S&P Global Market Intelligence, it closed out the session up by just 1.4%.
Nikola published a press release on Thursday announcing that would be selling up to 50 of its Nikola Class 8 hydrogen fuel-cell electric vehicles to BayoTech. Additionally, it will be purchasing low-emission hydrogen from BayoTech and buying up to 10 of its HyFill transportation trailers.
Nikola anticipates that it will receive BayoTech's low-carbon-emission hydrogen in Missouri this year, and will receive additional deliveries in California next year. In order to facilitate the delivery of gaseous hydrogen from BayoTech's production sites, Nikola intends to acquire up to 10 of the company's HyFill transport trailers.
Source Fool.com
