Why Nikola Stock Is Up 10% Today

The Georgia election outcomes fill fostered hope for enhance of an infrastructure develop-out.

Howard Smith

What took place

Shares in Nikola (NASDAQ:NKLA) were up as necessary as 10% this day, and remained 9% above Wednesday’s closing stamp as of two p.m. EST. 

Many names within the renewable vitality sector jumped the day prior to this after the Democrats took effective shield a watch on of the Senate, nonetheless Nikola stock did no longer truly safe half, with fair a 1% get.

So what

Unparalleled of Nikola’s promise lies within the develop-out of a hydrogen fueling infrastructure. President-elect Biden has been outspoken in his enhance of renewable vitality, and the day prior to this’s Democratic sweep of the 2 Georgia Senate seats now gives that agenda extra likelihood of success. 

Nikola Two and Tre semi trucks

Nikola Two and Tre semi vans. Image supply: Nikola.

Now what

Nikola plans to dangle every battery electric and hydrogen fuel cell vehicles. Both applied sciences will require a plentiful broaden in charging and refueling infrastructure to device going mainstream. With Democrats controlling the White Home and Congress for at least the next two years, shoppers hope the federal authorities will enhance that effort. 

Nikola moreover released an announcement this day exhibiting progress on the constructing of its Arizona manufacturing unit. The firm acknowledged it has entered sincere into a grasp utility agreement for the manufacturing unit with Global Water Resources (NASDAQ:GWRS)

Global Water Resources will supply water and wastewater products and services to the unique manufacturing unit in Coolidge, Arizona. With Nikola’s popularity peaceable in inquire, even a easy agreement that means solid progress on its manufacturing plant is candy news for shoppers. More main news shall be seeing the firm’s products and a path for the coinciding infrastructure.

Howard Smith owns shares of Nikola. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.”>

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