Why Nikola Stock Dropped Today
The market is going against speculative clean energy stocks today. Shares in battery-electric and hydrogen fuel cell vehicle maker Nikola (NASDAQ: NKLA) are trading down with the group. As of 1:40 p.m. EST, shares in Nikola were down 7%.
The move in the sector comes on the same day the company released details for its North American fuel cell electric vehicle (FCEV) program.
Today, Nikola released an announcement detailing plans for its FCEV commercial truck program. The company plans to initiate production at its Arizona facility with the battery-electric Tre semi truck. Following that launch, plans call for an FCEV version of the Tre, as well as the long-range Nikola Two FCEV Sleeper for the North American market of driving ranges between 300 and 900 miles.
Source Fool.com
