Here is why Nikola Corporation (NKLA) stock popup in the after-hours on Wednesday?

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MGTA Stock

Nikola Corporation (NKLA) shares soared 5.32% in after-hours on Wednesday, December 22, 2021, and closed the daily trading at $9.90. However, in the regular trading session, NKLA’s stock lost 0.21%. NKLA shares have fallen 44.15% over the last 12 months, and they have moved down 3.19% in the past week. Over the past three months, the stock has lost 17.54%, while over the past six months, it has declined 48.46%.

Let’s have a look at its recent news and developments.

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NKLA agreement with Heniff Transportation

On December 22, 2021, Heniff Transportation Systems, LLC signed an agreement to initially acquire 10 Nikola Tre BEV trucks from Thompson Truck Centers, a member of the Nikola Corporation (NKLA). Nikola is a leading designer and manufacturer of heavy-duty commercial battery-electric vehicles (BEV), fuel-cell electric vehicles (FCEV), and energy infrastructure solutions.

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According to the agreement, Thompson will provide the sales, service, maintenance, and energy infrastructure required to operate the Nikola Tre BEV trucks. Deliveries are expected to commence first half of 2022.

NKLA settlement agreement with SEC

On December 21, 2021, Nikola Corporation (NKLA), announced a settlement with the U.S. Securities and Exchange Commission. As part of the resolution, Nikola has agreed to pay $125 million to the SEC in five installments over two years. The first installment will be paid by the end of 2021, and the remaining installments will be paid semiannually through 2023. The company already reserved 125 million in its third-quarter earnings for the expected settlement.

NKLA first Tre battery-electric vehicle delivered

On December 17, 2021, Nikola Corporation (NKLA), delivered the first Nikola Tre battery-electric vehicle (BEV) pilot trucks to Total Transportation Services Inc. (TTSI). The new fleet will help TTSI to achieve zero-emission transportation solutions at the ports of Los Angeles and Long Beach.

NKLA latest financial results

On November 4, 2021, Nikola Corporation (NKLA), announced financial results for the quarter ended September 30, 2021.

Q3 2021 financial highlights

  • NKLA reported zero revenue in Q3 2021.
  • Total operating expenses were $271.83 million in Q3 2021 compared to $117.3 million in Q3 2020.
  • It suffered a net loss of $267.6 million in Q3 2021 compared to a net loss of $79.7 million in Q3 2020.

Tri-Eagle Sales agreement with NKLA

On October 27, 2021, Tri-Eagle Sales signed an agreement to lease 10 Nikola Tre BEV trucks from Ring Power Corporation, a member of the Nikola Corporation (NKLA) sales, and service dealer network.

According to the agreement, Ring Power will provide the sales, repairs, maintenance, and energy infrastructure required to operate the Nikola Tre BEV trucks throughout the lease term.

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The recent agreement with Heniff Transportation was the reason behind its good performance in the after-hours on Wednesday and we can expect it to continue its surge in the coming trading sessions as well.


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