Nikola Stock Rises Yet Again, Let’s Talk About It

Nikola (NASDAQ:NKLA) is a manufacturer of zero-emission electric vehicles, and it’s been on everyone’s radar ever since its stock rose by 12.9% at the start of the year.

Well, it’s happened again. As of Wednesday the 13th, its stock has risen by an additional 6.7%.

Why did this happen? Let’s go over the details and find out.

California approves incentives for Nikola’s Tre battery-electric semi 

The state of California has been involved in a program meant to promote the use of zero-emission vehicles for a while now, mainly when it comes to trucks and buses.

What’s this program all about?

Well, those interested in acquiring an approved vehicle of this kind would then qualify for a series of incentives. For instance, $120,000 for each truck bought.

Why is this important to know? Because Nikola’s Tre battery-electric semi has just been approved as a suitable choice, and that’s no small feat.

In essence, investors can now expect lots of significant orders to appear soon enough. Not to mention, lots of exposure for the brand, as people will be able to notice its reliability with greater ease. (And in greater amounts.)