• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, June 21, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Markets

Nikola stock jumps as EV truck maker reports start to production and surprise Q1 revenue

by Prattay Mazumdar
May 6, 2022
in Markets
Reading Time: 3 mins read
0
US DOE awards $2M grant to advance autonomous hydrogen refueling technologies
TwitterWhatsappLinkedin
Nikola Motor Company
Source: Nikola Motor Company

Electric weighty truck creator Nikola said Thursday it transported its first semi-trucks to clients in April, and that it currently has buy requests and letters of purpose for north of 500 of its battery-electric Tre trucks.

You might also like

Weekly Business News: Everything from Starlink’s India entry to Ecom Express Acquisition

Weekly Startup Funding News: Indian startups raised $92 Mn this week; from WIOM to POP

Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

The organization is likewise working with clients including Anheuser-Busch Inbev to finish a more extended territory hydrogen energy unit fueled variant due the following year.

The creation of Nikola’s battery-electric Tre semi-truck started in late March, and its initial 11 trucks were sent to vendors in April. While Nikola perceived no income from truck conveyances in the primary quarter, it did gather about $1.9 million in administration-related income, assisting it with beating Wall Street’s assumptions for the period.

Shares at first hopped generally 9% Thursday prior to paring a few additions in the midst of the wide market selloff. The stock finished the day up 6.4%.

Here are the key numbers:

Changed misfortune per share: 21 pennies, smaller than the deficiency of 27 pennies expected by Wall Street, as per Refinitiv agreement gauges. Income: $1.9 million, beating Wall Street’s assumption for about $100,000, as indicated by the Refinitiv agreement gauges. The examiner’s inclusion on Nikola, which opened up to the world through a consolidation with a specific reason obtaining organization in June 2020, is still meager. None of the seven examiners overviewed in Refinitiv’s income agreement gauge anticipated that Nikola should break $1 million.

Nikola said it’s still on target to convey somewhere in the range of 300 and 500 of its battery-electric Tres in 2022, in accordance with its direction given in February. The battery-electric form of the Tre is planned as a short-range truck for nearby use.

The territory of California made the model qualified for a purchaser motivating force program before the end of last year. Nikola expressed as of the finish of April it had buy orders for 134 of the trucks through the California program.

The organization said the energy component adaptation of the Tre, which will have range adequate for long stretch obligation, finished an underlying series of tests with Anheuser-Busch in California in late April and is on target to go into creation in the last part of 2023.

CFO Kim Brady said during the organization’s income call it had about $385 million in real money toward the finish of the primary quarter, as well as about $409 million leftover on its two existing value lines with Tumim Stone Capital.

The organization likewise said Monday it has raised an extra $200 million by means of a private offer of convertible notes. It hopes to have that $200 million close by early June. With that, Nikola’s money ought to be adequate to finance activities for essentially one more year without extra raises, the organization said.

Nikola was one of the principal EV new businesses to open up to the world. Like other post-SPAC EV producers, its portions were taken off in the weeks after the consolidation was finished — just to fall back to earth after an outrage surfaced.

Nikola’s straightforward organizer, Trevor Milton, suddenly surrendered in September 2020 after short-dealer Hindenburg Research claimed that he had deluded financial backers about the province of Nikola’s innovation. Milton has since been arraigned by a government fantastic jury for offering bogus expressions. Milton denies the charges.

Nikola paid the Securities and Exchange Commission $125 million in December to settle related charges.

Scarcely any financial backers anticipated that Nikola should recuperate from the outrages. Through Thursday’s nearby the stock is down around 22% year to date and off 90% from its high of $79.73, set in June 2020.

Be that as it may, the organization’s new achievement of finishing and conveying its most memorable battery-electric trucks, and its encouragement in fostering the more extended territory trucks for send-off the following year seem, by all accounts, to be key confirmation focuses and could revive the offers.

Tags: MarketsNikolaNikola earnings
Tweet54SendShare15
Previous Post

Lucid reports 30,000 EV reservations and raises prices on its Air sedans

Next Post

21.6 million pieces of Indian Content ‘Actioned’ by Facebook

Prattay Mazumdar

Prattay is a Journalism and mass communication student. He is a deadline-oriented journalist with a passion for telling unique stories. Prattay is currently working as an intern at Techstory and can be reached at [email protected] .

Recommended For You

Weekly Business News: Everything from Starlink’s India entry to Ecom Express Acquisition

by Ishaan Negi
June 21, 2025
0
Weekly Business News: Top business updates in this week

India’s rapidly evolving business and tech landscape is witnessing a week of dramatic turns—from legal battles and leadership pivots to billion-dollar investments and policy wins. From baby brands...

Read more

Weekly Startup Funding News: Indian startups raised $92 Mn this week; from WIOM to POP

by Ishaan Negi
June 21, 2025
0
Weekly Startup Funding News: Indian startups raised $196 Mn this week; from Emiza to Leap

After a hopeful rebound earlier this month, India’s startup investment activity experienced a steep decline in the third week of June 2025. Startups raised just $91.5 Mn across...

Read more

Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

by Harikrishnan A
June 21, 2025
0
Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

Eutelsat, the European satellite company, made headlines this week as its stock surged an impressive 31% on Friday. The rally came right after the company announced it had...

Read more
Next Post
FB logo by Wiki

21.6 million pieces of Indian Content ‘Actioned’ by Facebook

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?