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Why VectoIQ Stock Opened Lower Today

TheMotleyFool

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Why VectoIQ Stock Opened Lower TodayPhoto, wide shot, wide-angle lens, Automotive service center, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/c8dbaa5e-abdb-40ac-b919-ed80785b056a.png

Shares of VectoIQ Acquisition (NASDAQ: VTIQ) opened sharply lower on Thursday, following a Reuters report that Tesla (NASDAQ: TSLA) will soon reveal a new low-cost electric-vehicle battery technology.

As of 10 a.m. EDT today, VectoIQ's shares were down about 13.2% from Wednesday's closing price.

If you're reading this, you probably know that VectoIQ is expected to merge with electric heavy-truck maker Nikola Motor next month, and that auto investors have been trading VectoIQ's shares as a proxy for privately held Nikola in the meantime.

Source Fool.com

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