Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Nikola Stock Popped Today

TheMotleyFool

0 0

Shares of electric and fuel-cell-powered truck company Nikola (NASDAQ: NKLA) soared 11% through 12:15 p.m. ET this afternoon after Barron's reported that the California State Teachers' Retirement System (CalSTRS, the second-largest pension fund in the U.S.) has increased its investment in the EV company.

In the second quarter of 2023, CalSTRS added 221,367 Nikola shares to its holdings, a 52% increase that brings its total investment in the EV maker to 641,827 shares.

This shouldn't necessarily be taken as a vote of confidence in Nikola in particular, though. Turns out, CalSTRS also raised its investment in Rivian Automotive (NASDAQ: RIVN) by 64.5%, and in Lucid Group (NASDAQ: LCID) by nearly 79%.

Source Fool.com

Like: 0

NKLA

Share