NKLA - NKLA Stock Is Heating Up as Nikola Leaves 2021's Bad News Behind
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Electric vehicle (EV) company and frequent headline-grabber Nikola (NASDAQ:NKLA) is up big today as the troubled truck maker looks to leave its bad press days in the past. NKLA stock is up nearly 20% this morning as the company promises “more to come” in 2022.
How exactly is Nikola moving forward?
Well, in a tweet Wednesday, Nikola posted a series of images of its recent delivery event at the Port of Los Angeles. The delivery marks a new phase for the company, hopefully one lacking the controversy that defined this year. The electric truck company is looking to build some positive momentum heading into the new year. And at a glance, investors are all for it.
Our first customer delivery done, and more to come. #NikolaTreDelivery pic.twitter.com/Gp6qMo7UUc
— Nikola Motor Company (@nikolamotor) December 22, 2021
So, what else do you need to know about the electric truck company and NKLA stock?
NKLA Stock Eyes 2022 Rebound After a Rollercoaster Year
Nikola has had a series of PR wins as of late. Just days ago, Nikola publicly agreed to a $125 million settlement with the U.S. Securities and Exchange Commission (SEC).
Indeed, Nikola was the subject of a fraud investigation brought on by founder and former Executive Chairman Trevor Milton. Milton was arrested this summer for making false claims about his company’s technological capabilities. Investors may remember the viral video showing off what appears to be an operable Nikola prototype. However, in reality, the truck was simply rolling down an incline. Milton earned billions in investments under false pretenses. In fact, General Motors (NYSE:GM) even took a $2 billion stake in the untested company.
While paying a massive fine is rarely seen as a victory, NKLA’s viability depends on its ability to move on. Nikola’s recent delivery of its Tre battery electric vehicle (BEV) only adds to the narrative that this is a fresh chapter. The delivery marks the first of 100 planned BEV semi-trucks that Total Transportation Services intends to acquire over the next few years. It’s a positive sign for Nikola, and one that may convince some that the EV company isn’t just talk after all.
Prospects look good for the first time in a while for the electric truck maker. Time will tell if today’s jump is a blip on the map, or the beginning of a resurgence for NKLA stock.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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