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Nikola (NKLA) is establishing itself as one of the most volatile stocks in the market. After surging nearly 40% on news of the Nikola-General Motors (GM) deal, Nikola's stock quickly plunged as a result of major fraud allegations. These fraud allegations are only compounding the growing number of issues surrounding Nikola. Even under the best of circumstances, Nikola will have an incredibly tough time competing in the clean energy transportation industry.
Nikola has experienced a great deal of volatility over the past week as a result of mixed news.