Why Nikola Stock Has Been Soaring This Week
Shares of electric truck maker Nikola (NASDAQ: NKLA) may be down more than 20% so far in 2022, but that's much less of a year-to-date decline than shareholders saw just a week ago. That's because the stock has moved up nearly 20% just this week. As the market headed toward the close on Thursday, Nikola shares were up about 18% for the week, according to data provided by S&P Global Market Intelligence.
Nikola's fourth-quarter and full-year 2021 results were released on Feb. 24, and some of this week's momentum in the shares is still coming from that update. The stock jumped on the day of the report, and it received another boost this week along with other names in the alternative energy sector.
Image source: Nikola.
Source Fool.com
