Nikola (NASDAQ: NKLA) shares surged as much as 14.5% on Tuesday before settling back to a roughly 2% gain as of 1 p.m. ET. That mirrored a similar spike and decline for the electric truck maker to start the week's trading on Monday.

While Nikola recently reported updates, the answer likely lies more with the market in general. There is activity in the electric vehicle (EV) sector due to newly announced tariffs on EV imports from China, and there is renewed trading activity in meme stocks this week.

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Source Fool.com