🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Why Nikola Shares Are Soaring Today

Published 24/03/2022, 13:05
© Reuters.  Why Nikola Shares Are Soaring Today
NKLA
-

Nikola Corp (NASDAQ: NKLA) shares are surging Thursday morning after the company announced it started truck production earlier this week.

Commercial truck production was originally slated to start by the end of the second quarter, but the company said it already started producing its battery electric Tre semi-truck for customers, beating competitor Tesla Inc (NASDAQ: TSLA) to market.

Nikola said it expects to begin delivering the trucks in the second quarter. The company anticipates delivering between 300 and 500 trucks this year followed by increased production in 2023.

Related Link: This Tesla Rival Confirms Making Its First Semi Truck, Targets Up To 500 Deliveries This Year

Nikola is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

NKLA 52-Week Range: $6.41 - $19.52

The stock was up 16% at $10.60 at time of publication.

Photo: courtesy of Nikola.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.