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 (Nasdaq: NKLA) 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.
