The market has been down on Nikola Corporation (NKLA) stock recently. NKLA gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
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 $15.10 as of 10:53 AM on Wednesday, Jul 7, a drop of -$1.29, or -7.87% from the previous closing price of $16.39. The stock has traded between $14.90 and $16.49 so far today. Volume today is light. So far 5,187,800 shares have traded compared to average volume of 12,632,470 shares.
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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.
