NKLA - Is Nikola Stock a Buy?
Nikola Corporation (NASDAQ: NKLA) was perhaps the hottest stock in the summer of 2020. With the hype around its founder Trevor Milton and his vision for hydrogen fuel cells and battery-powered semi-trucks, investors bid up the stock to nosebleed heights. At one point, shares of Nikola stock were up 700% in just a few months.
But then, everything came crashing down when Hindenburg Research put out a scathing short report showing that Milton lied repeatedly about Nikola's progress and technological capabilities. Milton retired from the company, and the stock has been on a downward trend ever since. It is down 60% in the past 12 months.
However, with a new executive team on board, Nikola has made great progress on getting its semi-trucks out to customers. Does that make Nikola stock a buy right now? Let's take a look.
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Is Nikola Stock a Buy?