Nikola Corporation NKLA shares are trading higher Thursday. The stock appears to be recovering after dropping more than 40% in the last five sessions.
What To Know:
Shares of NKLA have been volatile after the company released its second-quarter financial results and announced an abrupt CEO transition.
Last Friday, Nikola reported second-quarter revenue of $15.36 million and a loss of 20 cents per share. The company also stated that it delivered 45 electric vehicles via wholesale and 66 EVs via retail in the second quarter.
Nikola CEO, Michael Lohscheller, stepped down as president and CEO due to a family health matter, and board chairman, Steve Girsksy, assumed the role of CEO of Nikola.
NKLA shares are moving higher on above-average trading volume. According to data from Benzinga Pro, more than 26 million shares have already been traded, compared to the stock's 100-day average of 80.964 million shares. Nikola has grabbed the attention of short sellers with 18.83% of available shares being sold short.
Related News: Disney, Plug Power, Alibaba, Tesla, Roblox: Why These Five Stocks Are Trending Today
NKLA Price Action: According to Benzinga Pro, Nikola shares are trading 8.76% higher at $2.11 at the time of publication.
Image: Courtesy of Nikola Corporation
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
