Nikola jumps on EV sales contract with BayoTech

Hyzon Motors

14/07/2023 15:33

(Updates)
    ** Shares of Nikola  NKLA.O  rise 14% to $2.54 
    ** 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: fuel-cell specialist Plug
Power  PLUG.O  up 3.2%, Fuelcell Energy Inc  FCEL.O  shares rise
2.7%, and hydrogen fuel-cell electric truck maker Hyzon Motors
Inc  HYZN.O  jumps 6% 
    ** 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
    ** Up to last close, NKLA's shares lost 58% over 12 months

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