What's Going On With Nikola Corporation Stock?

Nikola Corporation NKLA shares are trading lower on above-average volume on Tuesday. Here's a look at what's going on:

What To Know:

On Friday, Nikola reported its second-quarter financial results including revenue of $15.36 million and a loss of 20 cents per share. The company said it delivered 45 vehicles via wholesale and 66 vehicles via retail in the second quarter.

Nikola also reported that CEO Michael Lohscheller stepped down as president and CEO due to a family health matter, and board chairman, Steve Girsksy, assumed the role of CEO of Nikola.

Shares of NKLA are moving lower on above-average trading volume Tuesday. According to data from Benzinga Pro, more than 29 million shares have already been traded in the session, compared to the stock's 100-day average of 79.2 million shares. NKLA has received significant interest from short-sellers with 17.62% of shares currently being sold short.

Related News: What's Going On With Mullen Automotive Stock Today?

NKLA Price Action: According to Benzinga Pro, Nikola shares are trading 5.23% lower at $2.27 at the time of publication.

Image: Courtesy of Nikola Corporation