Nikola (NASDAQ:NKLA) Stock Price Down 4.6%

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Nikola Corporation (NASDAQ:NKLA) shares dropped 4.6% during mid-day trading on Thursday . The company traded as low as $64.95 and last traded at $62.01, approximately 19,281,461 shares changed hands during mid-day trading. An increase of 356% from the average daily volume of 4,226,596 shares. The stock had previously closed at $65.01.

In other Nikola news, insider Jeffrey W. Ubben bought 5,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $35.97 per share, for a total transaction of $179,850,000.00. 15.80% of the stock is currently owned by company insiders.

About Nikola (NASDAQ:NKLA)

Nikola Corporation manufactures electric vehicles. The company offers battery-electric (BEV) and hydrogen fuel-cell electric vehicles (FCEV). It manufactures semi-trucks and powersports vehicles. Nikola Corporation was founded in 2015 and is based in Phoenix, Arizona.

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