Market Update

Shares of Nikola Corporation (NASDAQ: NKLA) Jumps Over 7.11% on Friday. Here’s Why?

On Friday, Shares of Nikola Corporation (NASDAQ: NKLA) jumped 7.11% as an electric-vehicle startup entered into a partnership with Voltera, the charging facilities operator.

The two companies have agreed to collaborate and build up to 50 HYLA-brand hydrogen fueling stations throughout North America in the next five years.

This partnership aligns with Nikola’s previous plan of establishing 60 stations by 2026.

According to Carey Mendes, President of Nikola Energy, “Our partnership with Voltera will bring substantial capital and expertise to support Nikola’s plans to build refueling infrastructure to support its customers.”

Under the partnership, Voltera will be responsible for building, owning, and operating the stations, while Nikola will supply the hydrogen fuel and provide technical expertise.

As of press time, Nikola Corporation is trading at the price of $0.98 with a trading volume of 33,563,632 (33.56M). The company has underperformed since the start of the year and is now down -54.69% year to date. However, the shares jumped 10.53% over the past week.

Larry Norris

Larry Norris is a journalism graduate with keen interest in covering news – specifically top trending. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. Larry goal with this website is to report accurately on all kinds of stock news, and have a great deal of passion for technical and active reporting. Larry is diligent and proactive when it comes to news reporting.

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