Dear NKLA Stock fans, mark your calendars for February 24th
As its February 24 earnings call nears, Nicholas (NASDAQ:NKLA) stock fans will hold their breath.
Why? Nikola ended 2021 on a sour note. Founder Trevor Milton stepped down after facing fraud charges, which he has since denied. The electric vehicle startup also encountered obstacles in automotive partnerships and began to lose momentum.
As the new year approaches, however, NKLA stock is looking to rebound. The company recently signed a number of high-profile deals that leave some investors hoping for a comeback.
NKLA Stock looking to regain momentum in 2022
What do you need to know about the EV maker heading into its back-to-back earnings report? Well, recent investor sentiment on Nikola has slowly but surely turned in the right direction.
Nikola has made headlines several times after signing letters of intent with clients. In January, Nikola signed letters of intent with American truck (NASDAQ:USAK), SAIA and Alliance Logistics (NASDAQ:CVLG) for between 50 and 100 trucks each. This is pending a pilot truck program, but regardless, it’s a strong sign that Nikola is still delivering value for customers.
Additionally, the Air Resources Board of California recently deemed Nikola Tre’s Battery Electric Vehicle (BEV) trucks eligible for the Hybrid and Zero Emission Truck and Bus Voucher (HVIP) program. That means California-based Nikola truck buyers can qualify for an incentive of up to $120,000 per truck.
Expert investors haven’t ignored the promising news either.
Wall Street starts betting on Nikola
This month, the well-known Wedbush analyst Dan Ives upgraded his Nikola rating to ‘neutral’. Clarifying his decision, he said:
“While clear hurdles remain for Nikola to achieve its hydrogen and tractor-trailer vision over the next year, we believe most of the negative catalysts we feared have now played out in the market with a more balanced risk/reward on the name looking ahead.”
February’s earnings call could very well be a watershed moment for Nikola. Interested investors would be wise to mark February 24 on their calendars and prepare to see how the EV startup fares.
As of the date of publication, Shrey Dua did not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.