Nikola surges 7% as company opens up $5,000 reservations for its electric pickup truck

NikolaNikola Badger Electric Pickup Truck.
  • Nikola Corp. surged as much as 7% on Monday after the company opened up reservations for its electric pickup truck, Badger.
  • Nikola set the reservation price for its truck at $US5,000, which includes a ticket to Nikola World 2020, an event in December that will mark the official unveiling of the Badger prototype.
  • The Badger will be available in two versions: one powered by a battery that is expected to get 300 miles of range, and the other powered by fuel cells, which are expected to get 600 miles of range.
  • The company said it plans to announce a partnership with an auto manufacturer to produce the Badger before December.
  • Visit Business Insider’s homepage for more stories.

The opening of a $US5,000 reservation ticket for an electric pickup truck that has yet to be produced as a prototype has sent Nikola Corp. surging as much as 7.4% to $US68.25 on Monday.

Dropping $US5,000 on the reservation before November 15 will secure consumers a ticket to Nikola World 2020, a $US5,000 discount when they purchase the vehicle, and a chance to win a Badger at the official unveiling of the truck.

The company announced that it will begin to accept reservations for its Badger truck beginning at 11 a.m. Monday. Additionally, the company is opening up reservations for its electric WAV jet ski, and its electric NZT all-terrain vehicle.


Read More:


Jefferies says buy these 14 cheap stocks that are financially strong and positioned for market-beating returns

Nikola World 2020 is a three-day event that includes a live concert, a party for reservation holders, and the official unveiling of the Badger truck. Limited ride-alongs in the Badger truck will also be made available, according to the company.

Nikola said it plans to announce an OEM partnership with an auto manufacturer who will help build the Badger electric truck before Nikola World in December.

The Badger truck will be available in two models: the battery-electric vehicle, which gets approximately 300 miles of range, and the fuel-cell electric vehicle, which gets approximately 600 miles of range.

Nikola has been on a tear since it completed its reverse merger and went public earlier this month. The company’s stock skyrocketed more than 100% in a single day and for a brief moment surpassed Ford in market valuation despite selling zero cars and not expecting to generate revenue until 2021.

Shares of Nikola are up more than 130% over the past month.

Markets Insider

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.