Why Nikola's Stock Is Trading Higher Today

Nikola Corp 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 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.