Nikola Corp. Soars 15.78% to $0.71 on Bullish Day for NASDAQ

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On Friday, the NASDAQ had an excellent trading session, with Nikola ($NASDAQ:NKLA) Corp. stocks jumping 15.78% to $0.71. This impressive increase in stock price marks a major milestone for Nikola Corp., a leading electric vehicle and clean energy company. The company has developed a wide variety of innovative products, ranging from electric vehicles to hydrogen fuel cell technology. Nikola Corp. has made tremendous strides in the past year alone. The company has also recently invested in the development of zero-emission heavy-duty trucks and hydrogen fueling infrastructure.

With growing demand for green energy and electric vehicles, Nikola Corp. has positioned itself as one of the industry leaders and has seen its stock prices surge as a result. The impressive 15.78% jump in stock prices on Friday is a testament to the company’s success so far. With more development and innovation ahead, it looks like Nikola Corp. is set to continue its bullish trajectory.

Analysis

GoodWhale’s analysis of the financials of NIKOLA CORPORATION shows that it has a low health score of 2/10 when considering its cashflows and debt. This indicates that NIKOLA CORPORATION is less likely to be able to pay off debt and adequately fund future operations. We also found that NIKOLA CORPORATION is strong in growth, medium in asset and weak in dividend, profitability. Due to these findings, we classify NIKOLA CORPORATION as a ‘cheetah’ type of company, meaning that it has achieved high revenue or earnings growth, but is considered less stable due to its lower profitability. Investors who are looking for high-growth companies that may offer higher returns over the short term may be interested in this type of company. However, due to its lower stability, these investors should be aware of the potential risks associated with investing in NIKOLA CORPORATION. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Nikola Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Nikola Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Nikola Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Nikola Corporation are shown below. More…

Peers

The electric vehicle market is growing rapidly and is expected to continue to do so in the coming years.

– Blink Charging Co ($NASDAQ:BLNK)

Blink Charging Co is a provider of electric vehicle (EV) charging equipment and services, with a focus on the design, installation and operation of EV charging stations. The company has a market cap of 692.02M as of 2022, a Return on Equity of -29.61%. Blink Charging’s mission is to accelerate the adoption of electric vehicles by making it easy and convenient for drivers to charge their vehicles. The company offers a variety of different charging options for home, public and commercial use.

– TuSimple Holdings Inc ($NASDAQ:TSP)

TuSimple Holdings Inc is a leading autonomous driving technology company with a mission to bring safer and more efficient transportation to the world. The company’s self-driving technology can be used in a variety of applications, including last-mile package delivery, long-haul trucks, public transportation, and autonomous taxis.

TuSimple was founded in 2015 and has since raised over $1 billion in funding from leading investors including Sina, Nvidia, and SoftBank Vision Fund. The company has over 1,000 employees and is headquartered in San Diego, CA.

– The Lion Electric Co ($TSX:LEV)

The Lion Electric Co is a manufacturer of electric vehicles, founded in 2009. It has a market cap of 649.81M as of 2022 and a Return on Equity of 30.94%. The company makes electric school buses, medium- and heavy-duty trucks, and all-electric vehicles for urban delivery, utility, and off-road applications.

Summary

Investing in Nikola Corporation (NASDAQ: NKLA) can be a lucrative opportunity for investors. The stock price has seen a significant increase of 15.78% to $0.71 as of Friday, making it an attractive option for those looking to gain exposure to the growing electric vehicle industry. Analysts suggest that the company’s strong fundamentals and potential for growth make it a viable investment, despite its high valuation. Investors should be aware of the risks associated with investing in such a volatile sector, but the rewards could be substantial if the company continues to perform well.