What's Going On With Nikola Corporation Stock?

Nikola Corporation NKLA shares are trading lower on Friday. The stock is down more than 60% over the last month.

What To Know:

On Monday, it was reported that the lithium-ion cell battery of a Nikola electric vehicle caught fire in a third such incident for the company.

Nikola voluntarily recalled approximately 209 Class 8 Tre battery-electric vehicles in August due to the fire-risk, and the company also postponed all new BEV sales until the issues were resolved. 

According to data from Benzinga Pro, 19.42% of available NKLA shares are being sold short.

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NKLA Price Action: According to Benzinga Pro, Nikola Corporation shares are down over 9% at 95 cents at the time of publication.

Image: Courtesy of Nikola Corporation