Why Nikola Stock Is Up on a Down Day

Nikola (NASDAQ: NKLA) hasn't exactly been the poster child for rising stocks over the past year, with its shares down more than 60% in the last 12 months. But the electric-vehicle maker is bucking the trend today. With the overall market tumbling against a backdrop of geopolitical concerns, shares were trading up 8.9% as of 10:55 a.m. ET on Thursday. 

Nikola reported a smaller-than-expected quarterly loss in its fourth-quarter and full-year 2021 report released this morning. The company also said its Arizona factory's first phase will be completed by the end of March. Investors were happy with the financial update, as well as the status of commercializing its battery electric vehicles (BEVs) and hydrogen-powered fuel cell electric vehicles (FCEVs). 

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Source Fool.com