What's Going On With Nikola Stock Thursday?

Nikola Corporation NKLA shares have experienced increased volatility this week. The stock is bouncing around Thursday after the EV maker announced it successfully regained compliance with Nasdaq listing rules.

What Happened: In a new filing released Wednesday night, Nikola said it received written notice from the Nasdaq on Wednesday informing the company that it regained compliance with listing rules that require companies to maintain a minimum bid price of $1 per share. 

The news comes just weeks after Nikola enacted a 1-for-30 reverse stock split in an effort to raise its share price to comply with Nasdaq requirements near the end of June. The stock has been trending lower for much of the past two years, but it has shown some signs of life in recent trading sessions.

The recent buying in the stock appears to be driven by an announcement from last week that Nikola sold more trucks than it expected to in the second quarter. 

"We have maintained our 2024 momentum with solid wholesale numbers, new customers such as Walmart Canada, and repeat customers like 4GEN and IMC, purchasing vehicles through our dealer network," CEO Steve Girsky said at the time.

Nikola scheduled its second-quarter earnings report for Aug. 9 this week. The company is expected to report a loss of $2.80 per share and revenue of $25.688 million, according to the latest estimates from Benzinga Pro.

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How To Buy NKLA Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Nikola's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

NKLA Price Action: Nikola shares are down about 64% since the start of the year. The stock initially popped on the filing late Wednesday before giving back its gains in early trading Thursday. Nikola shares were down 2% at $9.31 at the time of publication, according to Benzinga Pro.

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Photo: courtesy of Nikola.