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Do Traders Think Nikola Corporation (NKLA) Can Turn Around Monday?

Monday, March 01, 2021 11:12 AM | InvestorsObserver Analysts
Do Traders Think Nikola Corporation (NKLA) Can Turn Around Monday?

Overall market sentiment has been down on Nikola Corporation (NKLA) stock lately. NKLA receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bearish
Nikola Corporation has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on NKLA!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.

InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.

Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With NKLA Stock Today?

Nikola Corporation (NKLA) stock is trading at $18.86 as of 11:06 AM on Monday, Mar 1, a rise of $0.76, or 4.2% from the previous closing price of $18.10. The stock has traded between $18.15 and $18.90 so far today. Volume today is below average. So far 3,384,376 shares have traded compared to average volume of 13,699,746 shares.

To see the top 5 stocks in the Auto Manufacturers industry click here.

More About Nikola Corporation

Nikola Corp is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

Click Here to get the full Stock Score Report on Nikola Corporation (NKLA) Stock.

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