NKLA - Why Nikola Stock Is Lower Today
Shares of electric-semi maker Nikola (NASDAQ: NKLA) were trading lower on Tuesday, amid a broad sell-off of technology stocks that was likely triggered by rising government-bond yields.
As of 3 p.m. ET, Nikola's shares were trading down about 5.8% from Friday's closing price.
There was no Nikola-specific bad news driving the stock lower on Tuesday. Nikola was one of many names caught in a sell-off of tech stocks triggered by rising Treasury yields. The yield on the benchmark 10-year U.S. Treasury note rose to 1.857% on Tuesday morning, up from 1.771% on Friday and its highest level in two years.
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Why Nikola Stock Is Lower Today