Nikola (NASDAQ:NKLA) stock is catching flak on Monday after news of a truck fire damaged investor confidence.
The bad news here is that one of the company’s trucks caught fire at its headquarters. The company notes that no one was injured. However, it also didn’t say how the fire started, although some investors are making connections.
The truck that caught fire was one previously damaged in a fire last month. That fire resulted in five trucks at the company’s headquarters being damaged. While the fires seem unrelated on the surface, some are tying the two together with this recent news.
Nikola only provided a short statement on the matter, as collected by Seeking Alpha:
“At approximately 2 pm today at Nikola HQ, one of the trucks that was previously damaged reignited. No one was injured and the fire was quickly contained.”
What This Means for NKLA Stock
NKLA stock shares are seeing strong trading activity on Monday as investors sell the stock on the fire news. As of this writing, more than 30 million shares have been traded. To put that in perspective, the daily average trading volume for NKLA is 66 million shares.
NKLA stock is down 7% as of Monday morning, leaving it with only a 5% gain since the start of the year.
Traders looking for more of the most recent stock market news today are going to want to keep reading!
We have all of the biggest stock market stories that investors need to know about on Monday! Among that is Stellantis (NYSE:STLA) stock rising on battery factory news, an upgrade for shares of Shopify (NYSE:SHOP) stock, as well as Tesla (NASDAQ:TSLA) stock getting hit by a downgrade today. All of that news is readily available at the following links!
More Monday Stock Market News
- STLA Stock Alert: Stellantis Plans Second U.S. Battery Factory
- Shopify (SHOP) Stock Pops on Analyst Upgrade
- Tesla (TSLA) Stock Dips on UBS Downgrade
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
