After days of declines, a large number of e-commerce and technology stocks staged a wide-ranging relief rally on Tuesday. Investors focused on a broader range of economic issues, allowing high-growth stocks to stage a comeback. E-commerce platforms have taken it on the chin recently, as investors bet that massive gains resulting from the pandemic would eventually fade. Read More...
Motley Fool
Why Nikola Stock Is Moving Higher Today
Shares of electric heavy-truck start-up Nikola (NASDAQ: NKLA) were trading higher on Tuesday, after the company announced that Covenant Logistics Group (NASDAQ: CVLG) has signed a letter of intent to buy 50 of Nikola’s electric semi trucks, if a test program goes well. As of 11:15 a.m. ET today, Nikola’s shares were up about 5.1% from Monday’s closing price. Nikola said that Covenant Logistics, a long-haul trucking firm based in Chattanooga, Tennessee, has agreed to purchase 10 battery-electric (BEV) Tre semis, and 40 fuel-cell-powered (FCEV) Tres, once a demonstration program has been completed to both companies’ satisfaction.
