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Is it Time to Dump Nikola Corporation (NKLA) Stock After it Has Fallen 22.23% in a Week?

Tuesday, November 23, 2021 02:56 PM | InvestorsObserver Analysts

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Is it Time to Dump Nikola Corporation (NKLA) Stock After it Has Fallen 22.23% in a Week?

Overall market sentiment has been down on Nikola Corporation (NKLA) stock lately. NKLA receives a Bearish rating from InvestorsObserver 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. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With NKLA Stock Today?

Nikola Corporation (NKLA) stock is trading at $10.39 as of 2:47 PM on Tuesday, Nov 23, a drop of -$0.74, or -6.65% from the previous closing price of $11.13. The stock has traded between $10.27 and $11.15 so far today. Volume today is 12,073,576 compared to average volume of 11,850,835.

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 Report for Nikola Corporation stock.

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