What's Going On With Nikola Shares Today?

Nikola Corporation NKLA shares show premarket gain on Thursday following an 8.4% drop in yesterday’s regular session.

The Arizona-based truck and energy units operator said it has produced 43 and wholesaled 40 Class 8 Nikola hydrogen fuel cell electric vehicles for U.S. customers in the first quarter of 2024.

In addition, the Nikola team has commenced the return process for the BEV “2.0” trucks to customers, the company said in a press release.

“This includes not only the production and sale of our hydrogen fuel cell electric trucks but also the start of returns for our battery-electric trucks to customers,” said Nikola CEO Steve Girsky. 

However, in the press release the company confirmed that it has not completed its quarterly review process or the preparation of its financial statements for the first quarter ended March 31, 2024. 

The Nikola hydrogen fuel cell and battery-electric vehicles are assembled in Coolidge, Arizona.  

Earlier this month, the company was in the headlines for taking legal action against the company it sold the Badger electric pickup truck assets to last year.

Nikola sold its Badger electric pickup truck and powersports assets to EMBR Motors, a company created by television personality Dave “Heavy D” Sparks, best known as one half of the Diesel Brothers.

In a regulatory filing, Nikola said Sparks, attorney Cole Cannon and disgraced Nikola founder Trevor Milton subsequently launched a campaign to take over the company’s board after buying the assets, even though Sparks agreed that Milton would not be involved in any way.

Price Action: NKLA shares are trading higher by 7.64% to $0.96 premarket on the last check Thursday.

Photo by VanderWolf Images on Shutterstock