Nikola Corporation (NKLA) saw a significant price increase today, closing at $1.60, up 24.03% from the previous close of $1.29. The stock opened at $1.36 and reached an intraday high of $1.67, with trading volume surging to 40,893,947 shares, over 500% of its average volume. This upward movement was primarily driven by the announcement on January 1st of a substantial sale of 22 electric trucks to WattEV, a company focused on zero-emissions refueling stations. This sale follows WattEV's previous purchase of 14 trucks in 2023, indicating a strengthening partnership and boosting investor confidence in Nikola's future prospects.
Additionally, the heightened trading activity was accompanied by an 88% increase in call option volume, suggesting that investors are betting on further upward movement. Despite ongoing financial challenges and past concerns about potential delisting, today's news has sparked optimism among investors, possibly speculating on a potential turnaround or buyout.