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Nikola's Q4 earnings report triggers Wall Street stock plunge

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Nikola's stock price has been on a wild ride the past couple days after reporting a larger-than-expected operating loss for the fourth quarter. abc15

PHOENIX — Nikola Corp.’s shares dropped sharply on Thursday and then made up some ground in another day of topsy-turvy Wall Street trading after the Phoenix-based zero-emissions vehicle maker released its fourth quarter financials showing an operating loss larger than the previous year.

The company reported a $195.4 million operating loss for Q4, which was more than the $162.7 million loss from the same period a year earlier. Even so, Nikola’s adjusted earnings per share loss of 37 cents beat the analyst consensus of a 43-cent loss. On Wall Street, the news sent Nikola shares down nearly 7% in early trading Thursday before it started to creep up toward the end of trading. In the end, the stock closed at $2.20, down 5.58%, or 13 cents. Trading volume was brisk, nearly three times higher than the typical daily volume of 11.8 million shares changing hands.

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