Nikola Corporation's stock is seeing an uptick today, likely driven by the company's recent announcement of a significant milestone. On January 9, 2025, Nikola revealed that its updated battery-electric trucks have collectively surpassed 1 million in-service miles. This achievement is being highlighted as a testament to the reliability and performance of their electric vehicles, potentially boosting investor confidence. However, some skepticism remains among investors, as discussions on Reddit suggest concerns about the company's financial health and lack of transparency regarding production numbers for the fourth quarter.
The broader market context also plays a role, with the hydrogen fuel cell vehicle market projected to grow significantly over the next few years. A recent report forecasts the market to expand from $8.31 billion in 2025 to $20.49 billion by 2030, driven by increasing demand for eco-friendly transportation solutions. This positive outlook for hydrogen fuel cell technology may be contributing to the optimistic sentiment around Nikola, as the company is involved in this sector.
Nikola's stock is currently priced at $1.25, reflecting a 2.46% increase from the previous close of $1.22. The stock opened at $1.24 and has reached a high of $1.29 in today's trading session. Despite being early in the trading day, the volume is relatively low at 2,200,383 shares, accounting for 23.06% of the average daily volume of 9,543,822.