Nikola stock soars toward a 9-month high after winning additional grant for hydrogen infrastructure

Nikola Corp.
NKLA,
+20.23%
stock shot up 20.6% toward a nine-month high in premarket action on Tuesday after the electric vehicle maker said it won an additional $16.3 million grant to support seven hydrogen refueling stations under its Hyla brand. Including the latest dollar boost, Nikola said it has now received $58.2 million in awards to build the hydrogen stations in California’s South Coast Air Quality Management District, the San Diego County Air Pollution Control District, and Mojave Desert Air Quality Management District. “Building an integrated, hydrogen ecosystem to support hydrogen fuel cell electric truck deployment and creating a scalable energy business, is a top priority for us,” said Nikola Energy president Carey Mendes. The stock had shot up 17.6% on Monday after a deal to sell electric trucks to J.B. Hunt Transport Services Inc.
JBHT,
-0.24%,
and has rocketed 93.5% since it announced on July 13 a deal to sell hydrogen fuel cell EVs to BayoTech Inc.