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Nikola stock rises toward $1 level after EV maker matches loss expectations but comes up shy on revenue

Clyde Edgerton by Clyde Edgerton
May 9, 2023
in Markets
Nikola stock rises toward  level after EV maker matches loss expectations but comes up shy on revenue
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Shares of Nikola Corp. NKLA rose 1.5% in premarket trading Tuesday, putting them on track to open at $1 or higher, after the electric vehicle maker reported a first-quarter loss that matched expectations even as revenue fell short. The net loss was $169.1 million, or 31 cents a share, after a loss of $152.9 million, or 37 cents a share, in the year-ago period. The per-share loss narrowed even as net losses widened as shares outstanding used in calculating per-share results increased by 32.4% to 549.7 million shares. Revenue increased nearly 6-fold to $11.12 million from $1.89 million, but was below the FactSet consensus…



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