Published on 22 Mar 2024 on Zacks via Yahoo Finance
Nikola Corporation (NKLA) Is a Trending Stock: Facts to Know Before Betting on It
Nikola (NKLA) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this pioneer in zero-emission trucks have returned -7.4% over the past month versus the Zacks S&P 500 composite's +5.3% change. The Zacks Automotive - Domestic industry, to which Nikola belongs, has lost 7.7% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.