3 Things Nikola Stock Bulls Need to Happen Soon
The huge rebound in the stock market has opened the door for companies to go public, and investors are hungry to invest in businesses with the potential to disrupt their industries. Nikola (NASDAQ: NKLA) has set its sights on doing to the commercial and passenger truck market what Tesla (NASDAQ: TSLA) has done with cars, using electric and fuel-cell technology to provide an alternative to internal combustion.
Nikola's stock started trading through a reverse merger with special-purpose acquisition company VectoIQ Holdings in early June, and the share price nearly tripled between June 4 and June 9 before falling back somewhat. Nikola's gains show how optimistic investors are about the company, but shareholders will need to see some real progress from it in order to justify further gains. Here are the three things that need to happen soon in order to keep the company's investor fans confident about the electric-truck specialist's prospects.
The company's initial focus has been on the commercial truck market, but founder and CEO Trevor Milton sees a huge opportunity with the Badger electric pickup truck. With one model using electric batteries solely and another offering a hybrid of electric battery and fuel cell technology, Nikola will start taking preorders for the Badger on June 29.
Source Fool.com
