NKLA - Has Nikola Finally Turned the Corner?
The road for Nikola (NASDAQ: NKLA) as a public company has been virtually all uphill. When it went public in the middle of 2020, the company had visions of transforming the trucking sector to battery-powered and hydrogen fuel cell-powered electric semis.
Upon its debut after merging with a special purpose acquisition company (SPAC), management projected more than $150 million in revenue for 2021. Instead, in its fourth quarter and full-year 2021 financial report, Nikola said it still hasn't sold any commercial trucks and reported a nearly $700 million net loss for the full year. But looking ahead, the company said it has real prospects for near-term sales of its battery electric vehicles (BEVs) and sees much progress with the hydrogen fuel cell electric vehicle (FCEV) side of the business.
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Has Nikola Finally Turned the Corner?