Why Nikola Stock Is Surging Today

Nikola Corp NKLA shares are trading higher Thursday after the company reported first-quarter results.

Nikola reported a first-quarter earnings loss of 21 cents per share, which beat the estimate for a loss of 27 cents per share, according to data from Benzinga Pro.

Nikola started serial production of its Tre BEV on March 21. The company said it has received 134 purchase orders for the Tre BEV utilizing California incentives. Nikola said it shipped 11 saleable production trucks to dealers in April for customer delivery. 

Nikola expects to deliver between 300 and 500 Tre BEV trucks in 2022. The company also plans to build, validate and test Tre FCEV beta trucks this year.

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NKLA 52-Week Range: $6.41 - $19.52

The stock was up 8.89% at $7.83 at time of publication.

Photo: courtesy of Nikola.