Nikola’s (NKLA) Stock Sliding Down: Founder In Trouble

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The NKLA stock price fluctuated between $12 and $13.28 throughout the trading session with the volume trading being 29M shares, which represented a positive variation when compared to the three months average volume of 11M shares.

The share price of Nikola Corporation (NasdaqGS:NKLA) dipped -15.22% to close Thursday’s market session at $12.03, lower as compared to yesterday’s close which brings the market valuation of the company to $4.74B.

The 52-week high for the Nikola Corporation’s shares is $54.56. That puts it -77.95% from that peak but still a massive gain since the share price dropped to a 52-week low of $9.37, while the S&P 500’s share price change was of 35%.

What does the trading volume tell us about the NKLA stock?

During the last trading session, Nikola Corporation (NasdaqGS:NKLA) has seen decay in its daily volume. The daily volume was of 11M, while in the last 10 days the average was 5.84M and last three months – 11.05M.
The decreasing interest in the NKLA stock from the investors is helping to drive the stock price down.

Shrinking short interest

The Nikola Corporation’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 55.63M shares being shorted which translates into 4.51 of a short ratio for NKLA, while in the previous month the shorted shares were 62.19M.

Nikola Corporation (NasdaqGS:NKLA) financials

With a market cap of 4.74B, Nikola Corporation holds a total cash of $763.75M that translates into $1.94 per share, while the total debt is of $14.77M.

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