Nikola Corporation's stock is experiencing a notable uptick following the announcement of a significant sale. On January 1st, the company revealed it had sold 22 electric trucks to WattEV, a company focused on building zero-emissions refueling stations across the United States. This sale comes as a follow-up to WattEV's previous purchase of 14 trucks in 2023, indicating a strengthening relationship between the two companies. The news has sparked interest among investors, leading to increased trading activity and speculation about Nikola's future prospects.
The stock's movement is also accompanied by heightened trading volume, with today's activity reaching approximately four times the average 50-day volume. Additionally, there has been an 88% increase in call option volume, suggesting that investors are betting on further upward movement. Despite the company's financial struggles and a history of hitting all-time lows, some investors remain optimistic, possibly speculating on a potential buyout or turnaround.
Nikola Corporation's stock is currently trading at $1.42, reflecting a 10.08% increase from the previous close of $1.29.