PRISM Emerging EV Index: Spotlight on NKLA
Investor interest in the Electric Vehicle (EV) sector has surged in recent years, driven by a global shift towards sustainable transportation, technological advancements, and supportive government policies. As traditional automakers pivot and newcomers emerge, the EV market promises innovation and growth, positioning it as a hotspot for forward-thinking investors.
The PRISM Emerging EV Index tracks small and micro-cap stocks that are contributing to the electric vehicle market as automakers, EV component suppliers or other EV related businesses such as charging stations.
A standout in the Index is Nikola Corporation (NKLA). This Arizona-based technology innovator and integrator, which develops energy and transportation solutions, has been frequently in the headlines.
The Latest:
Nikola’s stock surged yesterday following an arbitrator’s decision ordering its founder and former CEO, Trevor Milton, to pay the company $165 million over a 2022 securities fraud conviction. This ruling, disclosed in a Securities and Exchange Commission filing, could potentially boost the company’s market capitalization by around $80 million. Nikola, with over $225 million in cash from the second quarter, is projected by Wall Street to spend approximately $100 million quarterly for its business expansion.
ABOUT NIKOLA CORPORATION
Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.
