F - Why Ford Tesla and Nikola Stocks Were Up This Morning
So it's Thursday and stock markets are tumbling once again. The S&P 500 fell another 1.1% by 10:10 a.m. ET today.
The good news is that automotive stocks were doing a bit better than average. After initially slumping, both Ford (NYSE: F) and Tesla (NASDAQ: TSLA) were up about half a percentage point this morning. But the sector was being led higher by an unlikely hero: electric semi-truck maker Nikola (NASDAQ: NKLA) , whose shares spiked early this morning.
Earnings are the reason. This morning, the company announced that it beat earnings on both the top and bottom lines, delivering sales of $24.2 million and an adjusted loss of only $0.28 per share (Wall Street had expected $0.39).
For further details see:
Why Ford, Tesla, and Nikola Stocks Were Up This Morning