Why Nikola Stock Popped After Earnings

Nikola (NASDAQ: NKLA) shares spiked 15% Thursday morning after the company reported its first-quarter financial and operational update. The electric heavy-truck maker's stock pared some of those gains, but remained 5.8% higher as of 11:14 a.m. ET.

Nikola said it remains on track to produce and deliver between 300 and 500 of its battery electric semitrucks this year. That could bring in up to $150 million in revenue. The company already reported almost $2 million in service revenue in the first quarter. That handily beat analyst expectations of $100,000, according to Refinitiv consensus estimates. The quarterly loss was also better than anticipated by analysts.

Source Fool.com