Betting on Nikola Stock? Why This EV Rally Could End in Tears.

Yet while this latest rally could carry on for several weeks, don't assume that shares will keep charging back up to past split-adjusted price levels. While the Nikola Q2 deliveries news came out last week, this news has made an even larger impact on NKLA's price performance this week. Shares surged just 8.65% on the date of the deliveries announcement, but on July 8, this same news was likely the main driver behind its nearly 17% rally that day. Second, NKLA is a heavily shorted stock, with around 21.52% o ...