Shares of electric vehicle (EV) start-up Nikola (NASDAQ: NKLA) had a roller coaster year in 2020, and have only settled down somewhat in the first half of 2021. Through June 30, shares of Nikola were up 18.3% for the year, according to data provided by S&P Global Market Intelligence . But to get to that point, shareholders endured a 65% drop along the way.
That drop coincided with a rotation away from growth and speculative stocks over the first few months of the year. It also reflected a lack of confidence in Nikola that carried over from last year when questions arose around the validity of the company's plans and progress. But over the most recent several months, the company has updated investors with progress on its first batch of Tre battery-electric trucks, plans to develop hydrogen fueling infrastructure, and a letter of intent to purchase its trucks from a California port trucking company.
Nikola Tre battery electric semi-truck on a test track. Image source: Nikola.
For further details see:
Why Nikola Stock Moved Up in 2021's First Half