Nikola Corporation (NKLA) stock falls more than 11% today after first-ever earnings
August 5, 2020
“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.”
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