
The JPMorgan analyst lowered his price target for Nikola stock on execution risks related to a “tarnished brand.”
Nikola Corporation builds heavy-duty transport trucks using hybrid hydrogen-electric powertrains.
Nikola Corporation is an American company that has announced a number of concept zero-emissions vehicles since 2016 and has indicated plans to produce some of them in the future. The company is based in Phoenix, Arizona, where its research and development facility is located. The company is named after inventor Nikola Tesla.
As at September 2020, the company is under investigation by the Securities and Exchange Commission and the Department of Justice over securities fraud allegations.
The JPMorgan analyst lowered his price target for Nikola stock on execution risks related to a “tarnished brand.”
Over the past year, NKLA has climbed 25.64% and nearly 46% since the beginning of 2020. However, Nikola has lost 28.94% in the last three months.
Nikola shares have been on a rollercoaster in the past few months. Today they have lost nearly 24% of their value.