Nikola stock surges toward a 9-month high after orders for hydrogen fuel cell trucks exceed 200

Shares of Nikola Corp. (NKLA) climbed 1.6% toward a nine-month high after the electric vehicle maker said its dealer network have surpassed 200 orders for its Class 8 hydrogen fuel cell electric trucks. The orders, which have totaled 202, were by 18 customers, with deliveries expected to begin "later this year." The company said its hydrogen fuel cell electric truck has a range of up to 500 miles and can be fueled in about 20 minutes. The stock has soared 37.4% this week, after the company said Tuesday it won a grant to support hydrogen refueling stations, and announced Monday a deal to sell electric trucks to J.B. Hunt Transport Services Inc. (JBHT), including hydrogen fuel cell electric trucks. The stock has rocketed 263% over the past three months through Tuesday, while the S&P 500 has tacked on 11.1%.

-Tomi Kilgore

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08-02-23 0816ET

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