Nikola’s Q3 results ‘uneventful,’ and some clarity still needed: Deutsche Bank
Nikola Corp.’s third-quarter results were “uneventful” and likely did little to change investor sentiment toward the stock “until there is clarity on critically needed partnerships,” including one with General Motors Co. on fuel cells and batteries, analysts at Deutsche Bank said in a note Tuesday. “The uncertainty around the partnerships and the technical factors continue to keep us on the sidelines,” the analysts said, keeping their hold rating on the stock. “We do believe Nikola could offer investors a rare pure way to invest in zero-emission commercial trucks, whose adoption is poised to take off, driven by global regulations.” Nikola late Monday reported a narrower-than-expected third-quarter loss and said its talks with General Motors Co. are continuing. Nikola shares have gained more than 78% so far this year, compared with gains around 10% for the S&P 500. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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