What's Going On With Nikola Stock Today?

Zinger Key Points
  • Nikola opens new HYLA refueling station in Southern California, advancing its hydrogen infrastructure roadmap.
  • Nikola said it targets up to nine refueling stations by mid-2024 and 14 operational sites by year-end.

Nikola Corporation NKLA shares are trading lower on Wednesday.

The company announced the opening of its latest HYLA high-pressure modular refueling station and facility in Southern California. This new station, located at 2267 W. Gaylord St. near the Port of Long Beach, began operations on May 4, 2024.

Nikola’s latest launch marks a key step in its strategic roadmap, targeting up to nine refueling stations by mid-2024 and 14 operational sites by year-end. These include HYLA modular fuelers and partnerships like FirstElement Fuels’ at the Port of Oakland.

Nikola’s collaboration with industry partners strengthens its hydrogen supply chain and expands HYLA refueling infrastructure, driving hydrogen truck adoption and transportation decarbonization.

In addition to infrastructure, Nikola said it prioritizes customer satisfaction, providing 24/7 support via dedicated HYLA Ambassadors and Operation Technicians for seamless fueling.

Yesterday, the company reported first-quarter sales of $7.5 million, vs. $10.7 million a year ago. Adjusted EPS loss of $(0.09) versus $(0.22) Y/Y.

Nikola maintained its dominant market share of HVIP vouchers for Class 8 FCEVs, ending the quarter with 362 of 367, or 99% of the unredeemed vouchers it requested from 2023 through March 2024. 

Nikola postponed its delivery timeline for its reworked battery trucks to 2024 end from its earlier plan to complete it by the end of the second quarter or early third quarter, Reuters reports. 

Price Action: NKLA shares are trading lower by 3.38% to $0.5825 at last check Wednesday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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