Why Nikola Shares Are Rising

Nikola Corporation NKLA shares are trading higher after Walmart Inc. WMT announced a proof of concept with the company to expand its transportation partnerships to reduce emissions.

Later this summer, Walmart aims to run a battery-electric day cab proof of concept with Freightliner’s eCascadia and Nikola Tre BEV out of a distribution center in Fontana, California.

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 has traded as high as $19.44 and as low as $4.82 over a 52 week period.

The stock was trading about 11% higher at $7.17 per share at the time of publication.