Nikola Corporation's stock is experiencing a downturn today, despite the company announcing a significant milestone. Earlier this morning, Nikola revealed that its updated battery-electric trucks have surpassed 1 million in-service miles, a notable achievement for the company. However, this positive news appears to be overshadowed by ongoing concerns about the company's financial health, which have been a persistent issue for investors.
The stock opened at $1.37 and has since dropped to $1.25, marking an 11.97% decrease from the previous close of $1.42. The stock has fluctuated between a high of $1.39 and a low of $1.21 in today's trading session. Despite being just half an hour into the trading day, the volume has already reached 15,565,304 shares, which is 165.28% of the average daily volume of 9,417,401 shares, indicating unusually high trading activity this morning.