Why Is Nikola (NKLA) Stock Up 5% Today?


  • Nikola (NKLA) stock is gaining on an order for its FCEVs.
  • This has AiLO Logistics buying 100 of the units.
  • That builds on its previous order of 50 trucks.
NKLA Stock - Why Is Nikola (NKLA) Stock Up 5% Today?

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Nikola (NASDAQ:NKLA) stock is on the rise Tuesday after the company announced a new order from AiLO Logistics for its hydrogen fuel cell electric vehicles (FCEVs).

According to a press release, AiLO Logistics has placed an order for 100 of the company’s FCEVs through Tom’s Truck Centers. This is a sales and service dealer network dealer.

Nikola notes that deliveries of these 100 hydrogen FCEVs are set to start in 2025. This builds on a previous order for 50 of its trucks. Deliveries from that order have already started and are ongoing in 2024.

Nikola Global Head of Sales Ryan Clayton said the following about this news:

“Nikola trucks are on the road today, and the biggest test of our trucks is measured by our customers and their repeat orders. Having a prominent and mission-driven customer in AiLO not only purchase trucks for 2024 but double their order for 2025 is an honor for our organization and a testament to their drive to make a difference. We are glad to support with Class 8 vehicles as well as our HYLA energy infrastructure.”

How This Affects NKLA Stock

NKLA investors are excited about today’s order news, which has brought with it heavy trading of the company’s stock. As of this writing, more than 104 million shares of NKLA are being traded, above the company’s daily average trading volume of about 96.3 million shares.

NKLA stock is up 4.6% as of Tuesday morning.

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On the date of publication, William White did not have (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.

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