What's Going On With Nikola Corporation Stock?

Nikola Corporation NKLA shares are charging higher Thursday. Nikola shares are recovering after falling more than 40% over the last month following multiple fires involving the company's electric vehicles.

What To Know:

Nikola posted a "CEO Fireside Chat and Q&A" webcast featuring the company's president and CEO, Steve Girsky, on Wednesday.

Girsky answered questions submitted by stakeholders and addressed Nikola's battery-electric truck recall, production and delivery expectations, hydrogen infrastructure build-out, as well as Nikola's future and outlook.

Girsky addressed the recent fires resulting from a coolant leak within the vehicles' battery packs and assured stakeholders that the recall and safety solutions are being completed at the company's Arizona manufacturing facility, maximizing effectiveness and efficiency.

The CEO Fireside Chat and Q&A shared an optimistic view of Nikola's future and outlook.

Girsky highlighted the company's hydrogen fuel cell vehicles (FCEVs) and hydrogen infrastructure ambitions and partnerships which are unaffected by the BEV recall. Girsky stated that deliveries of the FCEVs will begin in late September after a celebratory launch event on Sept. 28.

Girsky also reinforced Nikola's position as a frontrunner in hydrogen refueling solutions and highlighted the company's ambitious plans for hydrogen infrastructure and hydrogen highway launching in California.

He emphasized strong consumer demand for the company's vehicles and the various state and federal EV rebates and incentive programs which drive increased consumer interest in Nikola and incentivize customer purchases.

Shares of NKLA are moving on very heavy trading volume. According to data from Benzinga Pro, more than 135 million shares have been traded in the session, compared to the stock's average of 88.384 million shares.

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NKLA Price Action: According to Benzinga Pro, Nikola shares are up 27% at $1.11 at the time of publication.

Image: Courtesy of Nikola Corporation