NKLA Stock Recent News

Nikola had record sales in the second quarter, as 72 new hydrogen fuel cell trucks were delivered. Even with revenue of about $31 million and a cash balance of $256 million, Nikola needed to raise fresh capital.

Nikola insiders keep selling stock. The business is in a poor place.

The failure of renewable energy companies like SunPower and Fisker has made investors question the viability of some of these companies. Falling stock prices make the financing problem worse, causing a downward spiral that's difficult to get out of.

Skilled transportation executive positioned to further company focus on zero-emissions trucking and hydrogen infrastructure solutions PHOENIX , Aug. 27, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of accomplished transportation executive Thomas "Tom" Schmitt as Chief Commercial Officer (CCO) of Nikola Corporation. As CCO, Schmitt will align Nikola's commercial efforts to scale the company's business.

Nikola (NKLA) stock price continued its sell-off even after the company published encouraging financial results and the Federal Reserve pointed to potential rate cuts in September. It has crashed by over 22% in the last 30 days, bringing the year-to-date losses to 71% and its market cap to $379 million.

Nikola announced plans to sell at least $80 million in convertible debt this morning. Total sales of debt, convertible debt, and equity could reach $500 million.

Nikola's Q2 earnings exceeded analysts' expectations. Its fuel-cell powered truck deliveries are increasing as it works through its recall of battery electric vehicles.

Nikola has had a rocky few years. It's worked to survive the reputational harm and share price crash that resulted from the lies of its founder (that earned him a four-year prison sentence).

Nikola stock has seen a sharp drop-off over the last 12 months due to persistent doubts about its long-term viability, but recent Q2 earnings show signs of a turnaround. The company's focus on hydrogen fuel-cell trucks in California presents a unique opportunity for growth in the zero-emissions trucking industry. Despite competition from Tesla and limited hydrogen infrastructure in the US, Nikola's strategic positioning in California and potential international expansion offer significant upside potential for investors.

Nikola Corporation reported record revenue for Q2, while beating guidance. That resulted in a slight positive move in the stock price to end last week. NKLA's economics are nowhere near viable at the moment. The higher production it achieves, the greater the net loss in a near-linear fashion. NKLA has two quarters of cash remaining. It will dilute more this year.