Previous close | 16.03 |
Open | 16.17 |
Bid | 15.00 x 27000 |
Ask | 15.05 x 4000 |
Day's range | 14.05 - 16.16 |
52-week range | 10.42 - 93.99 |
Volume | 18,775,100 |
Avg. volume | 15,515,698 |
Market cap | 5.84B |
Beta (5Y monthly) | N/A |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | 25 Feb 2021 |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | 27.00 |
Shares of Workhorse Group (NASDAQ: WKHS), Nikola (NASDAQ: NKLA), and Churchill Capital IV (NYSE: CCIV) are all down as well today, though each has its own story. As of 1:45 p.m. EST today, Workhorse Group shares were down 6%, while Nikola was down 5.6%. Churchill Capital IV, which plans to bring Lucid Motors public through a merger, was down 2%.
Shares of Nikola (NASDAQ: NKLA) fell 21.6% in February, according to data from S&P Global Market Intelligence. Electric Vehicle stocks have generally put up stellar gains over the last year, and Nikola stock has climbed roughly 44% across the stretch despite recent volatility. Nikola stock reached a high of roughly $94 per share last year, spurred on by anticipation for a potential partnership with GM and excitement for the overall EV space.
With that lens, selling stock to raise capital can actually pull growth forward and allow a company to invest more quickly at a larger scale, adding value long-term. Three companies that I think should take advantage of this market to raise significant capital are Virgin Galactic (NYSE: SPCE), SunPower (NASDAQ: SPWR), and Nikola (NASDAQ: NKLA). Virgin Galactic is still effectively a pre-revenue company, and has yet to launch its commercial space flights into orbit.