NKLA - Why did Nikola stock rally today? Walmart might use the company's trucks

Nikola Corporation (NASDAQ:NKLA) was one of the biggest gainers in the electric vehicle sector with a 8.67% jump on Wednesday. The buying action may have been sparked by news that Walmart  is expanding its partnerships with electric, hydrogen and natural gas-powered vehicle makers in pursuit of the company’s zero emissions standard across global operations by 2040. Of note, Walmart said its Class8 transportation fleet will now include battery-electric vehicles from Freightliner and Nikola (NKLA). Shares of Nikola (NKLA) traded as high as $7.36 during the session. NKLA has not topped the $8 level since the middle part of April. Later this month, Nikola is set to hold its annual meeting on June 30.

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Why did Nikola stock rally today? Walmart might use the company's trucks