Nikola Corporation's stock is experiencing a downturn today, despite the recent announcement of a new Hyla hydrogen refueling station in West Sacramento, California. This development is part of Nikola's strategy to expand its hydrogen infrastructure, aiming to support the adoption of zero-emission trucks across California. The West Sacramento station is expected to fuel up to 20 Nikola hydrogen fuel cell electric Class 8 trucks daily, marking a significant step in strengthening the north-south I-5 freight corridor. However, this positive news has not been enough to buoy investor sentiment.
On Reddit, discussions reflect a mix of skepticism and speculation about Nikola's future. One user noted, "NKLA, the failing hydrogen trucking company from a few years ago, has enough money for another quarter before bankruptcy." Concerns about the company's financial health and past warnings about potential delisting from NASDAQ are contributing to the negative sentiment. Another user speculated that the recent price action might be a "dead cat bounce," suggesting that investors are aware of the company's precarious position and are possibly anticipating a buyout.
Nikola's stock is currently trading at $1.28, down 0.78% from the previous close of $1.29, with a trading range between $1.36 and $1.26 so far today. Despite being just over an hour into the trading day, the stock has already seen a volume of 5,868,643 shares, representing 73.64% of its average daily volume of 7,969,059 shares.