Saad Ullah
Nikola the manufacturer of electric trucks started this week with a huge drop. Since the beginning of the week, the company's shares have fallen by more than 40%. The second trading day of the week ended with a 17% drop.
At the premarket on Wednesday, the price partially recovered. Growth before the opening of trading was + 9.64%.
However, this does not stop Robinhood trading app's users. According to the Robintrack website, about 160,000 investors hold the company's shares in their portfolios.
Before that, the company's share price growth was phenomenal. The price flew up only based on expectations of the launch of a new electric truck. At the same time, the company did not even have a working prototype.
On 29 June, Nikola posted a press release about the launch of the specification for the electric truck platform. It must be added that the enterprise still does not even have a prototype of this model.
Saad Ullah
