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Why Nikola Stock Jumped Friday

TheMotleyFool

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Nikola (NASDAQ: NKLA) gave its first-quarter 2021 financial update today, and investors liked what they heard. As of 11:50 a.m. EDT, Nikola shares were up 10.3%.

Nikola basically confirmed progress on several fronts for its business. One reason for the positive market reaction was the expectation that the start-up company might use the global semiconductor shortage or another excuse to explain a further setback in its plans. But it seems the company's manufacturing plant construction is on track, and Nikola reiterated that it plans to ship the first Nikola Tre battery electric vehicles (BEVs) to customers during the fourth quarter of 2021.

Image source: Nikola.

Source Fool.com

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