Reuters reported in April Tesla Semi trucks were in short supply for customers, including Walmart and Pepsi, and the companies were turning to rival electric-truck makers for their fleets. In June 2022, Walmart said it was expanding transportation pilots with manufacturers of electric, hydrogen and natural gas-powered vehicles as part of its 2040 goal to achieve zero emissions across its global operations, including its fleet of roughly 10,000 tractors and 80,000 trailers. Nikola said in May it delivered 75 of its hydrogen fuel cell trucks in the first two quarters of production and completed the delivery of its reworked battery truck at the end of the first quarter.
The latest trading day saw Nikola (NKLA) settling at $0.35, representing a -1.82% change from its previous close.
Commercial EV maker Nikola (NKLA) is seeing some lift in its stock ahead of the market open, after sinking Thursday on a 1-for-30 reverse stock split announcement. The reverse split will go into effect at the market's close on Monday, June 24. The Morning Brief weighs in on the corporate narratives swirling around Nikola and its stock. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.