Million

April

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Nikola stock seems to be following a severe downtrend since the beginning of 2023.&nbsp;</a> </li> 
 <li> <span>2</span> <a>On August 29, NKLA stock price opened 5.65% higher than its previous closing price on August 28.&nbsp;</a> </li> 
 <li> <span>3</span> <a>In Q2, 2023, Nikola Corporation reported 2.45% more revenue than estimated figures.&nbsp;</a> </li> 
</ul> 
<p>NKLA stock seems to be following a declining momentum since the beginning of 2023, on January 3, it was trading at $2.22, but the decline continued and from April 12 till June 13, it continued to decline and register a fresh 52-week low.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-nkla-stock-price-analysis-strong"><strong>NKLA Stock Price Analysis&nbsp;</strong></h2> 
<p>On August 29, NKLA stock price opened 5.65% higher than its previous closing price on August 28. In a week, NKLA share price declined more than 13% and in the monthly time frame, the prices slipped over 40%.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/p4m9C99lxPG_6XXEpw7ejQaPZK7gIqDvNhEJcSxubd_-_wFlHhozLpxtJN7Q0EwjEwGnAoYLu2Nyp24EjcVmdjn0myVD4JgbLanvYGjGGgkn2ahO_lXUEL0Hs1jSAYr8C23K8CTtShOewSX-NYGih8Y" alt="NKLA Stock Declining Trend Troubling Investors; Lost 40%"> 
  <figcaption class="wp-element-caption">
    Source: NKLA stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>At press time,<a href="https://www.thecoinrepublic.com/2023/08/07/nikola-corp-nasdaq-nkla-stock-price-may-regain-after-slippage/" rel="noopener noreferrer nofollow"> Nikola Corp. stock price </a>was trading below its annual price target of $2.70. In the 52-week time frame stock’s highest trading price was $5.58 and its lowest trading price was $0.52.&nbsp;</p> 
<p>In the first half of the August 29, trading session NKLA stock’s trading volume reflected the majority of buyers compared to sellers. Nikola Corp. has a market capitalization of 1.13 Billion and its share average trading volume is 54.873 Million.&nbsp;</p> 
<p>At the time of publication, NKLA share prices were trading below the 20-day and 200-day exponential moving average. If buyers continued their dominance over sellers then there are possibilities that the stock price might reach its immediate resistance of $1.85 and possibly the next resistance of $2.25.</p> 
<p>In case, the sellers recapture their position and dominate buyers then there are chances that NKLA stock price might face immediate support of $1 and next support of $0.5210.&nbsp;</p> 
<p>Nikola Corp. engages in the provision of zero-emissions transportation and infrastructure solutions. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.</p> 
<h3 class="wp-block-heading" id="strong-nikola-corp-earning-revenue-updates-strong"><strong>Nikola Corp Earning &amp; Revenue Updates</strong></h3> 
<p>In Q2, 2023 <a href="https://www.thecoinrepublic.com/2023/08/07/nikola-corp-nasdaq-nkla-stock-price-may-regain-after-slippage/" rel="noopener noreferrer nofollow">Nikola Corp</a> was expected to report $15 Million in revenue, suppressing the estimated figure it reported 15.36 Million in revenue. For the third and fourth quarter of 2023, the estimated revenue is $20.43 Million and $66.79 Million, respectively.&nbsp;</p> 
<p>The estimated EPS for the second quarter of 2023 was negative 0.22 and the reported EPS was negative 0.20. The estimated EPS for the third and fourth quarters of 2023 is negative 0.15 and negative 0.13.&nbsp;&nbsp;</p> 
<p>According to TradingView 689.503 Million NKLA shares are free-floating and the remaining 166.823 Million shares are closely held either by financial backers of the company or the board of directors.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p><strong>Major Support: </strong>$1 and 0.5210 <strong>&nbsp;</strong></p> 
<p><strong>Major Resistance: </strong>$1.85 and $2.25</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>Nikola Corp. is dedicated to working in zero-emission transportation and infrastructure solutions. NKLA stock seems to be following a declining momentum since the beginning of 2023 and in a week NKLA share price declined more than 13%. In the monthly time frame, its prices slipped over 40%. As per market observers, there are possibilities that by the end of this week stock price might cross $2.&nbsp;&nbsp;&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

NKLA Stock Declining Trend Troubling Investors; Lost 40%

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Thecoinrepublic.com

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