Why Nikola stock soared 20% in just one day

The Nikola Corporation (NASDAQ: NKLA) once touted as the 'Tesla of trucking' has had an extremely bumpy ride since first going public in 2020. Buoyed by great expectations, NKLA stock prices reached as high as $1,977 by mid-2020, before unceremoniously crashing to$450 by the end of 2020. The primary driver behind this drop was a report from activist short-selling group Hindenburg Research, which alleged fraud regarding the company's technical capabilities, along with levying an accusation that a key produc ...