Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nikola Corporation    NKLA

NIKOLA CORPORATION

(NKLA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Tesla shares surge past $1,000 as Musk revs up the Semi

06/10/2020 | 11:31am EST
Tesla logo is pictured on a car during electric car E-Rallye Baltica 2019 in Bauska,

By Yilei Sun and Brenda Goh

Tesla Inc's stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to "volume production."

Musk, in an email seen by Reuters on Wednesday, did not specify a time frame for ramping up production of the Semi. Musk on Wednesday tweeted "Yes" to a question on Twitter about whether the report of the leaked Semi truck production email was accurate.

Tesla's shares rose about 6% to hit $1,000 on Wednesday after Reuters reported Musk's email, making the Silicon Valley company the second-most valuable automaker in the world, behind Japan's Toyota Motor Corp. Tesla's share surge could position Musk for another payout from a stock compensation plan tied to the company's market capitalization.

The stock also got a boost from a bullish call by Wedbush, which lifted its target price for the automaker to $1,000 and said Tesla could have "more room to run."

Investors also are anticipating Musk will unveil new "million-mile" battery technology that could deliver longer life, lower costs and better range for future Tesla vehicles.

"Production of the battery and powertrain will take place at Giga Nevada," Musk wrote. Most of the other work will probably take place in other states, he wrote, without stating where.

Musk has said Tesla is scouting other U.S. states for a site to build a new factory, hinting that Texas could be a candidate. Oklahoma and other states are campaigning for the investment.

When Musk unveiled the prototype of the futuristic, battery-powered Semi in 2017, he said the Class 8 truck would go into production by 2019. More recently, he said the Semi would go into volume production by 2021.

Musk's Tuesday message coincides with a surge in the share price of rival clean truck maker Nikola Co.

Nikola, an electric and fuel cell truck startup, earlier this month began trading on the NASDAQ after it merged with special purpose acquisition company VectoIQ.

Shares in Nikola have more than doubled in price over the past week as the company's CEO has used Twitter and interviews to promote plans to launch an electric pickup truck to Tesla's forthcoming Cybertruck.

Nikola and CNH Industrial's IVECO commercial truck operation last year formed a joint venture to build a battery electric and fuel cell truck line called the Nikola Tre. IVECO has said orders are strong for the electric version of the truck, due out next year.

Nikola on Wednesday said it had hired a former Tesla executive, Mark Duchesne, to lead its manufacturing and a former Caterpillar executive, Pablo Koziner, to head its hydrogen fueling and battery recharging business.

(Reporting by Yilei Sun and Brenda Goh; Writing by Josephine Mason in LONDON; Editing by Joe White, Bernadette Baum and Steve Orlofsky)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CATERPILLAR INC. -0.13% 191.94 Delayed Quote.5.59%
LINE CORPORATION 0.00% 5350 End-of-day quote.0.00%
NASDAQ COMP. 0.09% 13543.061633 Delayed Quote.4.41%
NIKOLA CORPORATION 0.90% 20.12 Delayed Quote.31.85%
TESLA, INC. 0.20% 846.64 Delayed Quote.19.98%
THE LEAD CO., INC. -1.44% 820 End-of-day quote.-2.38%
TOYOTA INDUSTRIES CORPORATION 0.47% 8540 End-of-day quote.4.27%
TOYOTA MOTOR CORPORATION -1.08% 7660 End-of-day quote.-3.73%
All news about NIKOLA CORPORATION
01/14WORTHINGTON INDUSTRIES : Subsidiary Sells Almost 7.1 Million Shares of Nikola fo..
MT
01/14Believe in Tesla? Then Why Aren't GM, Ford and Toyota Crashing?
DJ
01/13NIKOLA : Shares Rise Over 6% After Securing "Competitive" Electric Rate For Hydr..
MT
01/12NIKOLA : Positioned To Accelerate Hydrogen Economy
PR
01/11Intercontinental Exchange's Cryptocurrency Venture to Go Public Through a SPA..
DJ
2020GRAPHIC : SPACtacular: Blank-check firms hit the jackpot in 2020
RE
2020LOGISTICS REPORT : Delivering More Doses; Crackdown on Alibaba; Peloton's Faster..
DJ
2020S&P 500 ends slightly higher as investors bet on recovery
RE
2020Industrials Move Higher on Optimism for Vaccine, Stimulus -- Industrials Roun..
DJ
2020CLOSE UPDATE : Stocks End Mixed on Confidence in Vaccines, Stimulus Package; Gai..
MT
More news
Financials (USD)
Sales 2020 0,05 M - -
Net income 2020 -335 M - -
Net cash 2020 779 M - -
P/E ratio 2020 -21,1x
Yield 2020 -
Capitalization 7 728 M 7 728 M -
EV / Sales 2020 141 415x
EV / Sales 2021 111x
Nbr of Employees 256
Free-Float 37,6%
Chart NIKOLA CORPORATION
Duration : Period :
Nikola Corporation Technical Analysis Chart | NKLA | US6541101050 | MarketScreener
Technical analysis trends NIKOLA CORPORATION
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 7
Average target price 26,67 $
Last Close Price 20,12 $
Spread / Highest target 134%
Spread / Average Target 32,5%
Spread / Lowest Target -25,4%
EPS Revisions
Managers and Directors
NameTitle
Mark A. Russell President, Chief Executive Officer & Director
Stephen J. Girsky Chairman
Kim J. Brady Chief Financial Officer & Director
Dane Davis Chief Technology Officer
Isaac Sloan Chief Information Officer & Software Architect
Sector and Competitors
1st jan.Capitalization (M$)
NIKOLA CORPORATION31.85%7 659
TESLA, INC.19.74%800 967
TOYOTA MOTOR CORPORATION-3.73%209 114
VOLKSWAGEN AG6.31%103 225
BYD COMPANY LIMITED25.30%95 407
NIO LIMITED19.70%91 165