Nikola Corporation's stock is experiencing a decline today, with concerns about the company's financial health and potential bankruptcy continuing to weigh on investor sentiment. Despite a recent article highlighting Wall Street's optimistic outlook for Nikola, with a mean target price of $12.40, skepticism remains high. The company's stock has fallen significantly from its IPO price, and recent executive share sales have not helped to alleviate investor concerns. Additionally, the stock's high short interest, with over 25% of the float held short, suggests that many investors are betting against the company's future prospects.
The current price of Nikola's stock is $1.12, down 5.25% from the previous close of $1.18. The stock opened at $1.15 and has traded between a high of $1.15 and a low of $1.11 so far today. Despite being early in the trading day, the volume is relatively low at 2,232,629 shares, accounting for 23.08% of the average daily volume of 9,671,631.