What to expect from Nikola’s first ever earnings report?
Nikola shares surged as Deutche Bank issued short-term ‘buy’ rating ahead of earnings.
Electric truck start-up Nikola reports its first ever quarterly earnings on Tuesday 4th August after the US market close. Its shares already popped this week, rallying by more than 20% on Monday after Deutsche Bank issued a short-term ‘buy' rating on the stock. In terms of the earnings, analysts are expecting Q2 revenue of $60K and a loss per share of $0.14.
Nikola, also known as the ‘Tesla of trucking’, had its stock-market debut on 3rd June of this year, after a reverse merger with VectolQ. Since the IPO, shares in Nikola have had a volatile run. Nonetheless the stock has sparked international interest amid demand for electric vehicles combined with the launch of its upcoming battery powered Badger pickup truck, which began pre-orders on 29th June.
Aside from battery-electric vehicles (BEV), Nikola’s core business includes production of hydrogen fuel-cell electric vehicles (FCEV), and hydrogen stations. The company says it already has more than $10 billion in pre-order revenues.
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