Why Nikola Stock Rose 8% Today

Fresh news related to hydrogen fueling would possibly perhaps well presumably also additionally be an attractive stamp for Nikola.

Howard Smith

What took enviornment

Shares of electrical truck maker Nikola (NASDAQ:NKLA) had been up 8% as of noon EST Tuesday. 

The inventory has won bigger than 20% for the explanation that launch of the twelve months. 

So what

To this point in 2021, Nikola has began to turn around negative sentiment that resulted in a turbulent twelve months for the inventory in 2020. Some reported development surrounding its novel manufacturing facility and battery-electric trucks has begun to present traders more self perception. On the present time, Plug Energy (NASDAQ:PLUG) and French automaker Renault (OTC:RNSDF) announced a partnership within the hydrogen gas cell sector that helps legitimize Nikola’s plans for utilizing that expertise

Nikola truck at hydrogen fueling station.

Narrate offer: Nikola.

Now what

The joint endeavor announced by Plug Energy and Renault is now in a roundabout plan associated with Nikola or its semitrucks. Nonetheless plans to increase hydrogen gas cell expertise for light industrial automobiles in Europe, alongside side related fueling infrastructure, is sure for Nikola, too. 

Whereas reviews of Nikola trucks being commissioned in Arizona most effective pertain to its battery-electric Tre semitrucks, the long-term investing thesis for Nikola will require success with its hydrogen gas cell-powered Two model, to boot. 

Nikola says it aims to “accomplish a global hydrogen fueling community.” News of an established automaker partnering with the maker of hydrogen gas cells to develop the infrastructure in Europe indicates that Nikola is now not in actuality by myself in its plans, and offers it more credibility with traders. 

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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