If you have bought or have been wanting to buy Nikola (#NKLA) stock, then you should watch this before hopping into this stocks volatile behavior in the stock market.
Earlier this week it was announced that General Motors announced it would no longer take an 11 percent equity stake in the company. Since that news broke, things have not fared well for the stock as back on November 30th, it saw a 20% drop after that announcement.
Dan Ives of Wedbush Securities told clients in a note the news “will be viewed as a clear negative.”
“This went from a game changer deal for Nikola to a good supply partnership but nothing to write home about and the Street will be disappointed accordingly along with lingering lockup worries,” Ives wrote.
We share our opinions on the Nikola and GM deal and what's likely to come for this stock and its investors.
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Video editing by Rohan and Sharvari (The Tweaky Tales)
