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Can Nikola Stock Offer Good Returns in 2021?
Last Updated: December 29, 2020
Nikola stock surged over 19% on Monday after a bullish note from JP Morgan. The stock is, however, down sharply from its 2020 highs. Can Nikola deliver good returns in 2021?
2020 was an incredible year for electric vehicle companies and we saw a rerating of all the companies in the electric vehicle ecosystem. Tesla’s market capitalization surged above the combined market capitalizations of leading automakers. NIO’s market capitalization also briefly soared above that of General Motors. Nikola was also having a strong year after its listing through the SPAC (special purpose acquisition company) route.