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Why Nikola Stock Moved Higher Monday

TheMotleyFool

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Shares of electric vehicle start-up Nikola (NASDAQ: NKLA) are down more than 80% from June 2020 highs after the company was called out for exaggerations and potential falsehoods about its business plans. But over the last week, the stock has jumped more than 15%, including a gain of 6.9% on Monday.

What seems to have changed for investors (besides the price) is that the company actually appears to be making progress on its previous promises. Along with a letter of intent for sales of 100 trucks, the company revealed it continues to work to make hydrogen fuel a real potential growth engine for the truck maker.

Nikola Two hydrogen fuel cell truck. Image source: Nikola.

Source Fool.com

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