Why Nikola's Stock Is Trading Higher Today

Nikola Corp (NASDAQ:NKLA) shares are trading higher after CNH Industrial announced a $250 million investment in the company as a consequence of the completion of Nikola Corp & VectoIQ Acquisition Corp's merger on June 3. 

Nikola Corp, which operates in the same industry as Tesla (NASDAQ:TSLA), said the proceeds of the merger are expected to accelerate vehicle production and fund manufacturing facilities.

Nikola Corp is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

Nikola Corp shares traded 103.70% higher to 73.27 on Monday. The stock has a 52-week high of $73.70 and a 52-week low of $10.28.