Nikola jumps on EV sales contract with BayoTech

Hyzon Motors

14/07/2023 13:26

(Updates)
    ** Shares of Nikola  NKLA.O  rise 17.6% to $2.60 premarket 
    ** Stock touted on stocktwits.com on Friday, indicating
retail interest  
    ** Nikola entered deal to sell 50 fuel cell EVs to BayoTech,
 buy low-carbon hydrogen from its Missouri and California
hydrogen hubs
    ** Hydrogen stocks also rise in heavy volumes premarket:
fuel-cell specialist Plug Power  PLUG.O  up 5.4%, Fuelcell
Energy Inc  FCEL.O  shares rise 3.4%, and hydrogen fuel-cell
electric truck maker Hyzon Motors Inc  HYZN.O  jumps 11.5% 
    ** Retail traders flocking to EV stocks since the automakers
reported strong deliveries last week, per Vanda Research 
    ** "We expect the more aggressive retail punters to add
wagers in out-of-the-money call options in EV companies and
other high-beta retail favorites during this reporting season" 
- Vanda Research 
    ** NKLA's retail sales of EVs doubled in Q2 from Q1 
    ** About 22.7% of NKLA's free float shorted on Juy 12 -
Ortex data
    ** NKLA's shares lost 58% over last 12 months

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))