Nikola Rises on Narrower-Than-Expected Loss
Nikola reported a wider loss for the first quarter compared to a year ago, but still beat Wall Street s expectations.
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Nikola (
NKLA) - Get Report was moving into high gear Friday after the electric truck maker posted better-than-expected first-quarter results.
Shares of the Phoenix, Ariz. company were climbing 7.1% to $10.86 in early trading.
Nikola reported a net loss of $120.2 million, or 31 cents a share, compared with a loss of $33.1 million, or 12 cents a share, a year ago.
The adjusted loss came to 14 cents a share, beating the FactSet consensus for a loss of 27 cents. The company reported no revenue for the quarter.
Author Bio
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead.
What happened
Nikola (NASDAQ:NKLA) gave its first-quarter 2021 financial update today, and investors liked what they heard. As of 11:50 a.m. EDT, Nikola shares were up 10.3%.
So what
Nikola basically confirmed progress on several fronts for its business. One reason for the positive market reaction was the expectation that the start-up company might use the global semiconductor shortage or another excuse to explain a further setback in its plans. But it seems the company s manufacturing plant construction is on track, and Nikola reiterated that it plans to ship the first Niko
Nikola Reports LOI For 100 BEV/FCV Trucks In Southern California
May 07, 2021 at 8:19am ET ++ Trials to start in the second half of next year.
Nikola Corporation has announced a new collaboration with Total Transportation Services Inc. (TTSI) port trucking company that explores the possibility of using battery-electric and hydrogen fuel cell trucks.
TTSI signed up for trials at the Port of Los Angeles/Long Beach and a non-binding Letter of Intent (LOI) to order 100 Nikola Class 8 battery-electric vehicles (BEV) and fuel-cell electric vehicle (FCEV) semi-trucks.
The trial with four vehicles - two all-electric and two hydrogen fuel cells, is expected to start in the first half of 2022. Then, depending on the outcome, TTSI will decide whether it will buy the trucks: 30 BEVs and 70 FCVs.
Nikola Jumps on 100-Vehicle Plan With L.A. Port Trucking Firm
Total Transportation Services, providing trucking services at the L.A./Long Beach port, signed a letter of intent to order 100 Nikola EVs.
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Shares of Nikola (
NKLA) - Get Report were higher after the electric-vehicle maker said Total Transportation Services signed a letter of intent to order 100 Class 8 battery and fuel-cell electric semi-trucks.
TTSI, one of Southern California s most prominent port trucking companies, is looking to expedite its plan for zero-emission transportation at the port of Los Angeles/Long Beach. The Nikola Tre trucks are exactly the type of zero-emission solution we need to be using at the port, said Vic LaRosa, president of TTSI.
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