Nikola Corporation (NKLA) stock falls more than 11% today after first-ever earnings

“Nikola stock falls 12% after pandemic-related supply-chain disruptions.Electric-vehicle maker says its long-term path ‘unaffected’ by COVID-19 pandemic

Nikola Corp. shares fell more than 12% in premarket trading Wednesday after the electric-vehicle maker reported a second-quarter loss that was wider than Wall Street expected and said that the COVID-19 pandemic disrupted its supply chain.

Nikola NKLA, -11.32% said Tuesday afternoon that it lost $86.6 million, or 33 cents a share, in the quarter, compared with a loss of $16.8 million, or 6 cents a share, in the year-ago period. Adjusted for one-time items, Nikola lost 16 cents a share in the quarter.

Analysts polled by FactSet had expected Nikola to post a GAAP loss of 13 cents a share on no revenue.”

Stock market data: https://www.marketwatch.com/story/nikola-stock-falls-7-after-electric-vehicle-makers-wider-q2-loss-2020-08-04?siteid=yhoof2&yptr=yahoo

At 11:48 AM today, ET time shares of Nikola Corporation (NKLA) were at 34.53-4.31 (-11.10%). As of 11:48 AM EDT. Market open.

Stock market data: Yahoo Finance

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