Nikola, the electric vehicle (EV) startup that recently threatened bankruptcy saw its stock soar by 33% today as speculative investors rushed in.
On Tuesday, Nikola’s shares surged 33.01%, closing at 66 cents on the New York Stock Exchange. This followed a 13% gain the previous day, marking a dramatic rebound from Friday’s 41% plunge to 44 cents amid rumors of an imminent bankruptcy filing.
A wave of bargain hunters has driven the stock higher this week, betting on the company’s potential recovery. Analysts attribute the surge to speculative investors who see limited downside risk at its current price.
Even in bankruptcy, losses may be minimal, while a successful turnaround could yield substantial gains.