Why Nikola Stock Moved Higher Today

Shares of electric-heavy-truck start-up Nikola (NASDAQ: NKLA) were trading higher on Thursday, after it confirmed that it is open to partnering with Korean auto giant Hyundai (OTC: HYMTF) on hydrogen technology -- even though the two companies could become rivals.

As of 3 p.m. EDT, Nikola's shares were up about 5.5% from Wednesday's closing price.

In an interview published on Sunday by South Korean newspaper Chosun Ilbo, Nikola founder Trevor Milton said that he would like to cooperate with Hyundai on hydrogen fuel-cell technology. Such a deal, which might include technology-sharing or an agreement by Hyundai to manufacture fuel cells for Nikola, could be a boon for the truck start-up.

Source Fool.com