Why Nikola (NKLA) Stock Is Climbing Friday

Nikola Corporation NKLA shares are climbing higher on Friday. After the close of market hours on Thursday, Nikola announced the company had regained compliance with the Nasdaq listing rules.

What To Know:

Nikola announced that the company received written notice from Nasdaq stating the company had regained compliance with Nasdaq Listing Rule 5450(a)(1), which requires that companies listed on the Nasdaq Global Select Market maintain a minimum bid price of $1.00 per share. 

Nikola said in its statement that the closing bid price of NKLA common stock was $1/ share or greater from June 14 to 28, and “the matter was now closed.”

NKLA shares surged during the month of June with the stock price rising by more than 130% over the last 30 days.

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NKLA Price Action: According to Benzinga Pro, Nikola shares are trading up by 11.1% at $1.40 at the time of publication.

Image: Courtesy of Nikola Corporation