Shares of technology truck and hydrogen technology technician Nikola rose sharply on Thursday after trading the company confirmed that production had begun on the electric battery trading truck, Tre, ahead of their investors' event to be held later Thursday.
Nikola stock (tick: NKLA) rose 10.6%, to $ 10.11, in recent trading. The S&P 500 and Dow Jones Industrial Average both rose 0.4%.
The company said production began this week at its factory in Coolidge, Ariz. Tre is an electric truck with a charging distance of approximately 350 miles. That width means that Tre is better suited to local applications, such as port loading.
"There!" teased RBC commentator Joseph Spak in a research report on Thursday after he called Tre. Nikola has endured a lot since becoming a publicly traded company back in 2020, including the departure of founder Trevor Milton. Progress in production represents a major milestone. "Our view is that the company is developing rapidly, but it is still the first days of genocide and high risk,"
Spak rates shares Nikola Hold shares and has a stock value of $ 8.
Down the road, Nikola plans to produce a hydrogen gas truck and a hydrogen fuel cell that will be able to compete in the long-distance truck markets. A typical small truck traveling down a highway can travel up to 1,300 miles [2,000 km] once loaded. Trucks get about four to six miles [6 to 7 km] a liter, and two gasoline tanks can carry up to 10 gallons [300 L] of diesel.
The company expects to build 300 to 500 trucks by 2022. Delivery of trees is expected to begin in the U.S. in the second quarter. European exports will follow in the third quarter.
It is Nikola's first important product. Wall Street expects the company to generate an estimated $ 117 million in sales by 2022, from a reported egg sales in 2021.
Nikola said at the end of February, in line with the fourth quarter revenue release, that he was expecting "the start of the Tre BEV production series on March 21." It looks like the company has already reached that goal.
"We are very focused on automotive delivery and investment as a global leader in solutions for transport and energy infrastructure solutions,"
The company made the announcement during its launch on Wednesday. Nikola is scheduled to hold a presentation by investors Thursday afternoon from 4:15 p.m. Eastern Time.
Thursday's move puts Nikola's black stock of the year. in 2021 it is 9.87 US dollars. With the arrival of Thursday's trade, Nikola's stock has dropped by about 7% so far. The stock is down 53% from June 52 a week of 19.52 weeks and a nearly 90% drop from its total high of $ 93.99 per share.
