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Nikola Beats Wall Street Expectations With Strong Q2 PerformanceNikola Corporation (Nasdaq: NASDAQ:NKLA ), a key player in zero-emissions transportation, has demonstrated remarkable resilience and strategic acumen in its recent quarterly performance. The electric truck manufacturer reported better-than-expected financial results for Q2 2024, marked by a significant revenue surge and robust demand for its hydrogen-powered trucks, signaling a successful pivot from its battery-electric vehicles (BEVs) to hydrogen fuel cell electric vehicles (FCEVs). Financial Highlights Nikola ( NASDAQ:NKLA ) posted Q2 revenue of $31.3 million, surpassing Wall Street's expectations of $27.1 million. Representing a staggering 318% increase from the previous quarter, marking the strongest topline in the company's history. The company also reported a smaller-than-expected adjusted loss per share of $2.67, compared to analysts' average estimate of a $2.85 loss, reflecting Nikola's improving financial health. Strong Demand for Hydrogen Trucks A key driver of this financial performance was the robust demand for Nikola’s hydrogen-powered trucks. The company delivered 72 hydrogen FCEVs in Q2, an 80% increase from the first quarter, exceeding its own guidance. This strong performance highlights the growing interest in hydrogen fuel technology, particularly among large fleet operators looking to decarbonize their operations. Nikola’s shift towards hydrogen technology appears to be paying off, as it acquires new customers and sees an uptick in orders. Notably, Walmart Canada became a significant customer, receiving its first hydrogen semi-truck from Nikola in June. The company's focus on expanding its reach across North America has also resulted in repeat orders from two major national accounts, further solidifying its market presence. Operational Achievements Nikola's FCEVs are proving their worth in the field. The company reported that its hydrogen trucks have logged over 550,000 miles with an impressive average fuel economy of 7.2 miles per kilogram of hydrogen. This performance outpaces the average Class 8 diesel truck, offering a 23% improvement in fuel efficiency on a diesel gallon equivalent basis. This not only underscores the operational efficiency of Nikola's FCEVs but also aligns with the company’s commitment to reducing carbon emissions. Strategic Initiatives and Future Outlook Nikola ( NASDAQ:NKLA ) is on track to complete the rollout of its revamped BEV "2.0" recall program by the end of 2024, showing its commitment to addressing past challenges and improving product reliability. The company is also exploring alternative revenue streams, including the sale of regulatory credits, which further bolsters its financial outlook. Despite a challenging year for the electric vehicle (EV) industry, with many companies facing declining demand and stock price drops, Nikola’s strategic pivot towards hydrogen technology and its focus on fleet customers are beginning to yield results. With cash and cash equivalents standing at $256.3 million, Nikola is well-positioned to continue its growth trajectory and capitalize on the expanding market for zero-emission vehicles. Conclusion Nikola Corporation’s Q2 performance is a testament to its strategic agility and commitment to innovation. By shifting its focus to hydrogen fuel cell technology, the company has not only met but exceeded market expectations, positioning itself as a leader in the zero-emissions transportation space. As the world moves towards greener technologies, Nikola’s ability to deliver high-performance, eco-friendly trucks will likely drive further growth and investor confidence in the quarters to come.
NASDAQ:NKLALong
by DEXWireNews
1
NKLA likely to move up towards 1.47 and beyondHere is a bullish chart of Nikola Corporation. This looks good for going upward in the coming months. The chart outlines various resistances it has on its way. The first one is a 3M resistance 3MR1 where the price is headed currently. I think the probability is very high that the price on this current move pushes upto 3MR1 after having some resistance and pullback at weekly resistance WR1 level. I will keep watching this one very closely. Current P/B ratio for this stock is also very favorable as it is just above 1 (1.38). This signifies the stock has come into undervalued zone. Let me know what you think.
NASDAQ:NKLALong
by angela_altair
NKLA - is the bottom in?Been watching this one recently.. and it appears we may have formed a bottom. A bearish crab (micropattern) just completed at the bottom of what appears to be a bearish shark (macro pattern). There also seem to be overlay shark patterns.. so the price pump potential could be very nice here. This is a very early call- but lets see if NKLA can rebirth itself. If the patterns hold true there will be fireworks. The only thing I could say is get in early and hold on. These patterns tend to be very subtle and then skyrocket with very little warning.If price continues downward- well.. there is always tomm. I entered in around 11.74. The target shown here is a very low intermediate level. The ultimate target is well above into the 30 dollar range.
NASDAQ:NKLALong
by Moorsc0de
9
NKLA Market Makers Behavior HypothesisFrom the behavior of NKLA since it was exposed as a scam in September, it has appeared to hit certain price floors and then stop. For such a volatile stock with huge questions of its legitimacy and ability to remain an ongoing concern, it is striking that the price would sit within a narrow channel for weeks. Some have theorized that MMs are actively buying and selling within price channels to keep the price from plummeting. They would be doing this so they, their wealthy customers, and the company insiders can exit in an orderly fashion, without alerting the unwashed masses that the house is on fire. This orderly exit keeps the price up while the large blocks are slowly sold off to unsuspecting retail investors. Additionally, the MMs can sell options contracts for BOTH puts and calls, hedging their risk while taking in large insurance premiums due to the stock's inherent IV, which has run 150-200% for months. By holding it steady, they expire out short contracts. I believe I've found a pattern in the data. There are 4 periods of unusually calm prices, each running about 7-10 days and holding prices of 24, 22 and 18. There was a runup on the GM deal/no-deal around 12/1, but that dropped back down to the 18 level, again without continuing to drop, but hitting that 18 floor. If this pattern holds, the floor drops to 16 next week, but it could go to 14 or 12, and then will hold for 7-10 days.
NASDAQ:NKLA
by yolotwice
8
$NKLA isn't a joke.Here are my 2 cents. This isn't advice it's just me thinking things through for my own fun. 1. NKLA ran hard already based on good news. 2. It's bottomed back to per rocket land. 3. All the lawsuits etc etc etc could be just noise while big money continues to enter. (my opinion) 4. GM and NKLA are probably going to announce something soon. 5. NKLA is backed by some massive names already. 6. The chart is salivating and screaming for a breakout. IDK anything. This is just speculative. GL.
NASDAQ:NKLALong
by whitejade
7
NKLA is extremely bearish, $20 price target. Nikola finally tested the long term resistance trendline today, largely based on Earning Report anticipation. It was quickly rejected from the trendline on HIGH volume. This was also the first time it tested the bearish ema death cross, and its now confirmed. Expect further mark downs. Knowing how SPACs work, their traditional FIB levels, and psychological levels, $19-$20 is the next level of support. $20 is traditionally a large resistance level for every SPAC as it usually correlates to the break even point of a redeemed warrant. Don't be surprised for NKLA to be range bound as it builds proper support and is accumulated. NKLA Bulls should be prepared to go through frustrating price action, failed rallies, and bull traps over the next 4-6 months, if not longer. $SPCE is probably a good analog. Good luck!
NASDAQ:NKLALong
by TheGreatBatsby
8
Nikola (NKLA): A Revolution, or a Scam?If you like this analysis, please make sure to like the post! I would also appreciate it if you could leave a comment below with some original insight. In this analysis, I'll be providing an in-depth analysis on Nikola Corporation (NKLA), also recently known as the Tesla (TSLA) killer. I'll provide an overall understanding of what Hydrogen vehicles are, what Nikola is trying to achieve, and the questions that have been posed against the company and its founder, Trevor Milton. Hydrogen Vehicles - Hydrogen vehicles are known to have the following advantages: heavy duty fast fueling, long range support, less weight, and renewable zero-emission. - NKLA places a special emphasis on its heavy duty fast fueling, using hydrogen full cell technology - Theoretically, hydrogen gas is ignited, then reacts with the oxygen in the air, and release its energy through an explosion, with the only waste product being water. - A hydrogen fuel cell is a device that takes in hydrogen and oxygen, generating electricity. - However, the reality is not as good as it sounds - Based on Volkswagen's research, hydrogen vehicles demonstrate a lower efficiency rate compared to electric vehicles. - And while NKLA has recently claimed that they are reaching a cost level of $2-3 per kilogram of hydrogen, research by ARK invest demonstrates that hydrogen costs, provided by NKLA's numbers, demonstrate that they would be 3 times more expensive than electricity What Nikola Corporation (NKLA) is trying to achieve - NKLA is looking to be the Tesla-killer, providing not only hydrogen vehicles, but also sustainable energy sources and infrastructure based on hydrogen - They seek to offer affordable hydrogen based energy solutions through economies of scale - Their motor lineup consists of the following models: Nikola One, Nikola Two, Nikola Tre, Nikola Refuse, which are all large trucks, and Nikola Badger, a pick-up truck. Questions Posed about NKLA - All great successes have stories of hate along the way. However, some serious questions that are posed against the executive chairman Trevor Milton, and the company. - Research conducted by the Hindenburg research suggests that NKLA is almost absolutely worthless, and that its founder is a complete con-artist - They demonstrate that Trevor Milton misled partners into signing agreements by falsely claiming to have extensive proprietary technology - How Nikola staged a video showing their semi-truck cruising on a road at a high rate of speed. - A spokesman for Volvo spin-off Powercell AB, a hydrogen fuel cell technology company that formerly partnered with Nikola, called Nikola’s battery and hydrogen fuel cell claims “hot air”. - As proven by Ark Invest as well, despite Milton's claims that Nikola will reduce hydrogen costs by 81%, they have failed to do so - The "in-house" designs from NKLA are licensed from third-parties - Milton, through dozens of outright lies, was able to form partnerships with some of the largest legacy auto companies in the world in their desperation to catch up to Tesla’s EV leadership status - Milton also cashed out $70 million around the IPO and amended his share lock-up from 1-year to 180 days. - This means that if he gets laid off, his equity awards immediately vest and he is entitled to collect $20 million over two years. - Most of these skeptical views towards the company revolve around the central idea of the company not having any substance, and the chairman's ethically questionable decisions. Technical Analysis - As this stock has only been listed on the market for a few months, leaving very little price action history - First of all, we can see that the stock skyrocketed close to $100 at all time highs, mostly driven by investors' hype that this would be the next Tesla (TSLA) - However, prices since have dropped, touching the historical support at $29.08 - Another strong support lies at $14.88, but given the stochastic indicator demonstrates signs of the stock potentially being oversold temporarily, we might see a technical bounce take place Conclusion While ambitious, Nikola Corporation and the mastermind behind the company seem to lack any substance. Hydrogen vehicles are definitely an area worth exploring, but it's also important to realize that the attention Nikola has received was due to its being marketed as 'the next Tesla' rather than its cutting edge in-house hydrogen fuel cell technology. There are a lot of inconsistencies in the claims made by the company, and potentially unethical decisions made by the executive chairman himself. As such, I believe that this company is more likely to be 'the next Theranos' rather than a Tesla Killer.
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NASDAQ:NKLA
by Michael_Wang_Official
32