What's Going On With Nikola Stock Today?

Nikola Corporation NKLA shares are moving Tuesday. The stock appears to be recovering from a recent slide, though shares of NKLA remain down more than 15% over the last five days.

What To Know:

On Friday, Nikola announced a voluntary recall of 209 of its Class 8 Tre battery-electric vehicles due to a coolant leak within the vehicle battery pack. The coolant leak was also found to be the probable cause of a fire near the Nikola headquarters in July.

The company stated, "Nikola is currently in the process of filing this voluntary recall with the National Highway Traffic Safety Administration (NHTSA) and is placing a temporary hold on new BEV sales until a resolution is in place."

Nikola Corporation has become a favorite among retail investors and short-sellers alike. According to data from Benzinga Pro, 18.83% of available NKLA shares are being sold short.

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NKLA Price Action: According to Benzinga Pro, Nikola shares are trading 2% higher at $1.85 at the time of publication.

Image: Courtesy of Nikola Corporation