NKLA - Will Nikola Stock Recover in 2022?
On Dec. 17, Nikola (NASDAQ: NKLA) delivered its first Tre battery-electric pilot trucks to Total Transportation Services, a port trucking company in Southern California. That was probably the first major positive development since the company was accused of false claims relating to its technology, leading to the departure of its founder Trevor Milton in September 2020.
So, more than a year after the disturbing developments, has Nikola finally moved on for the better with its new management? Does the stock's fall present a buying opportunity? Let's discuss that next.
First, let's take a closer look at the recent trucks' delivery. The trucks that Nikola delivered to Total Transportation Services are pilot trucks. Total Transportation Services will test these trucks, and if they're found satisfactory, the company will order 30 battery electric trucks in 2022. An order of 70 fuel cell trucks may follow in 2023. In addition to successful trials, an order from Total Transportation Services will depend on it getting some government funding for the purchase of trucks.
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Will Nikola Stock Recover in 2022?