Shares Of Nikola Stock Are Rising Today: Here's Why

Nikola Corp NKLA shares are trading higher Wednesday morning following the company’s annual meeting of shareholders.

Why Is It Moving?

A new Nikola press-release shares that shareholders voted to pass “Proposal 2” which authorizes an increase of outstanding shares from 600 Million to 800 Million.

“We are grateful for the support of Nikola’s enthusiastic, diverse stockholder base, and the dedication of the diligent Nikola team who has continued to deliver for our customers as we worked to ensure we have more flexibility to drive Nikola’s continued growth,” Mark Russell, Nikola’s Chief Executive Officer shared.

Price Action: Shares are up 3.74% as the price hovers around $7.21 during today’s pre-market session. 

Photo: Courtesy of CHUTTERSNAP on Unsplash