Wednesday, September 9, 2020 9:53 AM EST
The craze for electric transport continues to be noted in the stock market. Electric truck maker Nikola Corp. (NKLA) has become the new star of the Nasdaq after closing yesterday's session with a rise of more than 40% after General Motors (GM) announced the purchase of 11% of the automotive company. In today's pre-opening, its shares are trading with more moderate increases, around 5%.
Some are already comparing Nikola with Tesla (TSLA): shortly after its stock market debut on June 4, the company appreciated more than 100% to exceed 31 billion dollars.
However, some analysts warn of a possible bubble in Nikola's price since, despite being founded in 2014, it has not yet sold a single truck: the company is based on the idea that some idea will manage to build a truck with hydrogen as fuel.
The only certainty so far is that Nikola's shares have registered enormous volatility since their debut, with a price that ranges between $30 and $90, as seen in the following graph:
Source: Admiral Markets MetaTrader 5. NKLA daily chart. Data range: from June 4, 2020, to September 9, 2020. Prepared on September 9, 2020, at 11.30 am. Keep in mind that past returns do not guarantee future returns.
Yesterday's revaluation of Nikola Corp coincided with Tesla's stock plummeting 21% after the S&P 500 ruled out listing Elon Musk's company in the index. This was Tesla's biggest stock market crash in its history.
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