25.10.2024 16:59:42

Why Nikola Stock Is Jumping This Week

Electric truck maker Nikola (NASDAQ: NKLA) continues to work to grow its business, and it announced some new progress this week. That led to a jump in the stock price. As of early Friday morning, Nikola shares were 10.5% above last Friday's closing price, according to data provided by S&P Global Market Intelligence.However, that bump higher still didn't do much to offset the huge decline the stock has had this year. Nikola shares have dropped by about 84% year to date, even as the company begins to accelerate sales of its hydrogen fuel cell electric trucks.Yet this week's news of an agreement between Nikola, global beverage company Diageo, and logistics provider DHL Supply Chain to deploy two new Nikola hydrogen trucks in Illinois is still notable progress for the electric truckmaker. DHL Supply Chain is a division of DHL Group, and a longtime logistics contract partner for Diageo's North American operations.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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