Nikola (NKLA.US) stock fell more than 7.0% despite the fact that the electric and hydrogen truck startup posted lower than expected quarterly loss. Company's quarterly loss increased to 20 cents from 14 cents in the first quarter, but was narrower compared to analysts' expectations of 30-cent loss per share. Nikola did not record any revenue, after recording $36,000 in solar revenue last year. “We have had continued success in commissioning and validating the Nikola Tre BEVs, completed both our Ulm, Germany and Phase 0.5 of our Coolidge, Arizona manufacturing facilities," said Nikola's CEO Mark Russell in a statement. He also mentioned the acquisition of a 20% stake in the Wabash Valley Resources clean hydrogen project in Indiana. However, the investors' sentiment was negatively affected by information on the anticipated deliveries of vehicles. Nikola expects to deliver only 25-50 vehicles in the second part of the year, compared to previous expectations of 50-100 and put revenue guidance at $0-$7.5 million, down from $15 million-$30 million. Management said that this is related to supply-chain issues, which could delay validation, testing and delivery timelines for the Tre trucks, saying "one of biggest challenges is supply chain. Situation more acute last 90 days."
Nikola (NKLA.US) stock has been trading in a downward trend for a long time. Today price is approaching major support at $9.60 where the previous price reactions can be found. In case buyers fail to stop the falls there as well, a move towards the lower limit of the descending channel may be on the cards. The nearest resistance can be found at $15.10 and coincides with 50 SMA (green line) and upper limit of the descending channel. Source: xStation5
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.