Tesla Cybertruck

Watch out, Tesla. Nikola is the new hot electric truck stock

Nikola, which makes hydrogen fuel cell and battery-powered electric trucks, is available to everyone. Its stock has doubled in the past few days. The president of Nicolas boasts about this on Twitter.

stocks Nikola – The first name of famous inventor Tesla – has risen by more than 120% since he ended the merger with an already public fake company called VectoIQ on June 3.
The stock jumped 103% on Monday alone, despite falling 22% early in the morning on Tuesday in a fluctuation in trading alongside The broader market Before going back. Nikola shares closed today with gains of 9%.

Tesla shares, which also recently rallied to a record high nearby, ended the day down 1%.

The meteorite gains came on Monday after Nicolas founder and CEO Trevor Milton He released a series of tweets Announcement of pre-orders for the company’s Badger truck. Shares rose another 27% at the open Tuesday before falling.
Nikola began trading under this name last week after her agreement with VectoIQ – a special purpose acquisition company (SPAC) with no assets of her own that was only formed to merge with a private company seeking to offer its shares for public subscription. (Richard Branson The Virgin Galaxy (SPCE) Imagination is a sports / betting company Draft of kings Both were recently posted in this way as well.)

VectoIQ, which changed its name to Nikola and a pointer to NKLA last week after the merger, has already increased by more than 600% in 2020 – with most of these gains being achieved after Nikola announced plans to purchase VectoIQ in March.

Nikola, which also makes semi-trucks, is now valued at around $ 26 billion based on Monday’s closing price, although no sales – let alone earnings – are expected until 2021.

This makes the company more valuable than stronghold (F) And Fiat Chrysler (FCAU) It appends quickly GM (GM) – The fact Milton boasted about her on Twitter on Monday, saying: “I wanted to say this all my adult life; $ NKLA is now worth more than Ford and FCA. Nipping is on the heels of GM.”
Electric pickup wars are about to start
Nikola has already announced sales to major customers, including ordering 800 trucks from the Budweiser brewery Anheuser-Busch InBev (bud) He ordered millions of dollars with the shipping company American Xpress companies (USX).
The company also got some of the best talents in the automotive industry in its quest to take over Tesla (TSLA), Which plans to launch both semi-electric and future Cybertrack. Nikola announced last week that GM’s former Vice President Stephen Gersky, who was CEO of VectoIQ, is now on his board.
One of the biggest investors in Nikola is CNH (CNHI), A global industrial conglomerate that makes tractors, buses and construction equipment. CNH said on Monday that Iveco’s commercial vehicle subsidiary now owns a 7.1% stake in Nikola.

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