Why Nikola Stock Is Up 10% Today

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Shares in Nikola (NASDAQ: NKLA) were up as much as 10% today, and remained 9% above Wednesday’s closing price as of 2 p.m. EST. 

Many names in the renewable energy sector jumped yesterday after the Democrats took effective control of the Senate, but Nikola stock didn’t really participate, with just a 1% gain.

Much of Nikola’s promise lies in the build-out of a hydrogen fueling infrastructure. President-elect Biden has been outspoken in his support of renewable energy, and yesterday’s Democratic sweep of the two Georgia Senate seats now gives that agenda more likelihood of success. 

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