Hyperdrive
High-Flying EV Maker Nikola Plummets in Bumpy Earnings Debut
- Quarterly loss sends shares plunging 18% after the close
- After founder criticizes analysts, CEO fields tough questions
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Nikola Corp.’s first earnings report was a bumpy one, with executives and analysts trading barbs and investors sending the electric-truck maker’s shares plunging.
The stock fell 18% in late trading after the company, which develops big rigs that run on batteries and fuel cells, said it lost $86.64 million in the second quarter, a five-times greater net loss than a year ago.