NKLA - Could Nikola Be a Millionaire-Maker Stock?
The future of transportation is almost certain to rely far less on fossil fuels than it does today. That's particularly true in the trucking segment, where fuel is one of the biggest expenses for fleet operators, and their corporate customers are seeking ways to shrink their carbon footprints.
Nikola (NASDAQ: NKLA) is one of the companies expected to be a disruptive force in trucking. The company is developing heavy-duty vehicles that combine electric motors and hydrogen fuel cells, aiming squarely at competing with the diesel-powered machines that dominate the highways now. Since the company went public via a merger in June, early investors in the company have already nearly doubled their money.
But are there more share price gains to come? Investors are expecting big things, considering that Nikola hasn't even begun commercial manufacturing and could be another year away from mass-market production. Let's take a closer look at whether or not Nikola has millionaire-maker potential.