While electric vehicle start-up companies seemingly have a lot of potential, until there is progress with the products themselves, many trade on analyst opinions and speculation. Today, three such companies are experiencing a mix of news and downgrades. Nikola (NASDAQ: NKLA) reported a new business collaboration Thursday, and shares were trading up 19% as of 12:35 p.m. EDT.
Fisker (NYSE: FSR) and Lordstown Motors (NASDAQ: RIDE) , however, were hit with an analyst downgrade today, and traded as much as 13% and 6% lower, respectively. Those declines eased throughout the day, and Fisker was down about 7% while Lordstown was back to even as of 12:35 p.m. EDT.
Nikola announced today it has begun a partnership with TravelCenters of America (NASDAQ: TA) as a first step in developing a nationwide network of hydrogen fueling stations.
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Why Nikola Stock Popped, While Fisker and Lordstown Dropped Today