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Nikola stocks surge 20% after corporate delivers its first EV truck, says extra to come back

San Pedro, CA – December 17: The primary two zero-emissions electrical vehicles, from an order of 100 automobiles, delivered from the Nikola Company to General Transportation Services and products on the Port of Los Angeles in San Pedro on Friday, December 17, 2021.

Brittany Murray | MediaNews Staff | Getty Pictures

Nikola stocks jumped 20% on Thursday after the electrical truck maker finished supply of its first automobile.

The surge within the inventory got here an afternoon after the corporate introduced on Twitter that its first buyer supply is completed, signaling extra to come back.

Previous this week, Nikola stated it agreed to pay the Securities and Trade Fee $125 million to settle fees it defrauded buyers by means of deceptive them about its merchandise, technical capability and trade possibilities.

The SEC stated Nikola is chargeable for deceptive claims made by means of the corporate’s founder and previous leader govt officer, Trevor Milton. He pleaded now not to blame to fraud fees introduced by means of the Justice Division in July.

Nikola went public in June 2020 by means of merging with a SPAC. The inventory hit a file prime above $90 a percentage quickly after the IPO however got here all of the method backtrack because of the regulatory probe.

A slew of pre-revenue electrical automobile start-ups sought to head public thru SPAC offers following Nikola, which garnered regulators’ consideration. Nikola was once considered one of a minimum of 4 EV corporations underneath investigation by means of federal businesses about doubtlessly deceptive buyers.

— CNBC’s Tom Franck and Mike Wayland contributed reporting.

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