Nikola Corporation, which makes battery-electric and hydrogen-electric trucks, has more than doubled since it began trading on June 4.
Nikola Corporation
The company began trading on June 4 after a reverse merger with VectoIQ, which is a publicly-traded special purpose acquisition company headed by former vice chairman of General Motors Stephen Girsky. The deal was announced in early March. Part of Monday's surge was due to CEO Trevor Milton announcing a reservation date for the company's upcoming Badger vehicle.
Fuel cell technology combines hydrogen stored in a tank with oxygen from the air to produce electricity, with water vapor as the by-product. It's been around for decades and while there are machines such as fork lifts that use the technology, it has yet to become mainstream due to cost, among other things.
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