Nikola Stock Is Getting Burned Monday: What's Going On?

Nikola Corp NKLA shares are trading lower Monday after the company said one of its trucks that caught fire late last month reignited on Sunday afternoon.

What Happened: Last month, Nikola reported a fire near its headquarters and noted that it was suspicious of foul play. The incident affected multiple trucks, but did not cause any injuries.

Nikola kept the damaged trucks at its headquarters for "safety monitoring" and "ongoing investigations." According to Reuters, one of the trucks caught fire again over the weekend. 

"At approximately 2 pm today at Nikola HQ, one of the trucks that was previously damaged reignited. No one was injured and the fire was quickly contained," the company reportedly said in a statement. 

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Nikola is scheduled to report second-quarter financial results before the market opens on Aug. 4. The company is expected to report a loss of 22 cents per share on revenue of $15.43 million, according to estimates from Benzinga Pro.

NKLA Price Action: Nikola shares were down 11.6% at $2.21 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Nikola.