Why Nikola Surged Over 25% at One Point Today

Shares of electric and hydrogen-fueled truck maker Nikola (NASDAQ: NKLA) rallied over 26% at one point today, before settling into a 16% gain as of 1:13 p.m. ET.The rally was fueled by the company's disclosure of hydrogen truck deliveries for the second quarter, which greatly exceeded expectations. With Nikola's past problems and loss-making financials having beaten the stock down to very low levels, it's no wonder the good news sparked a reversal.In the second quarter, Nikola reported 72 HYLA Class 8 hydrogen-powered truck deliveries to wholesalers. That was well above the high end of 60 it had forecast for the quarter in its previous guidance. In addition, Nikola noted a new customer in Walmart Canada, which had purchased vehicles for the first time, while existing customers increased purchases through Nikola's dealer network.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel