Overall market sentiment has been down on Nikola Corporation (NKLA) stock lately. NKLA receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
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 $20.73 as of 10:47 AM on Monday, Oct 19, an increase of $1.18, or 6.04% from the previous closing price of $19.55. The stock has traded between $20.08 and $21.79 so far today. Volume today is less active than usual. So far 13,499,235 shares have traded compared to average volume of 47,183,337 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.
