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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nikola Corporation    NKLA


Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/27 09:03:56 am
21.1 USD   +0.91%
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Wall St hits near 7-week low on virus fears, stimulus fog

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09/21/2020 | 11:16am EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Shares of airline, cruise, hotel and casino companies tumble

* Big lenders fall on reports banks moved illicit funds

* Nikola crashes as founder resigns; GM shares fall

* Indexes down: Dow 2.13%, S&P 500 1.80%, Nasdaq 1.32%

Sept 21 (Reuters) - Wall Street's main indexes hit their lowest in nearly seven weeks on Monday as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears about another hit to the domestic economy.

All the major S&P indexes were down, with energy leading declines as oil prices slid on the possible return of Libyan production and rising coronavirus cases.

Wall Street's main indexes have tumbled in the past three weeks as investors dumped heavyweight technology-related stocks following a stunning rally that returned the S&P 500 and the Nasdaq to record highs.

Another round of business restrictions will threaten a nascent recovery in the wider economy and add further pressure on equity markets, analysts said. The first round of lockdowns in March had led the S&P 500 to suffer its worst monthly decline since the global financial crisis.

"We've been in a momentum type trading market now for weeks," said Rick Meckler, a partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

"When the market ran up, its biggest reason was people wanted to get in before it was even higher. And now people are becoming nervous that the almost extraordinary gains for this year will all be given back."

Thomas Mantione, managing director at UBS Private Wealth Management in Stamford, Connecticut, said the passing of U.S. Supreme Court Justice Ruth Bader Ginsburg also decreases the chances of another fiscal stimulus package to help lift the domestic economy from a deep recession.

"You've now put yet another negotiating factor into that fiscal stimulus policy response, which makes it even less likely to pass before the November election," Mantione said.

Congress has for weeks remained deadlocked over the size and shape of a fifth coronavirus-response bill, on top of the approximately $3 trillion already enacted into law.

At 10:02 a.m. ET the Dow Jones Industrial Average was down 588.64 points, or 2.13%, at 27,068.78, the S&P 500 was down 59.80 points, or 1.80%, at 3,259.67, and the Nasdaq Composite was down 142.45 points, or 1.32%, at 10,650.83.

The CBOE Market Volatility index, a measure of investor anxiety, shot up to its highest level in nearly two weeks.

JPMorgan Chase & Co and Bank of New York Mellon Corp fell 2.6% and 1.8%, respectively, on reports that several global banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

The S&P banking subindex lost 2.1%.

Nikola Corp crashed 17.9% after its founder Trevor Milton stepped down as executive chairman following a public squabble with a short-seller over allegations of nepotism and fraud.

General Motors Co, which took an 11% stake in Nikola for about $2 billion earlier this month, slipped 5%.

Airline, hotel and cruise companies tracked declines in their European peers as the UK signalled the possibility of a second national lockdown.

Declining issues outnumbered advancers 8.60-to-1 on the NYSE and 5.27-to-1 on the Nasdaq

The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded eight new highs and 21 new lows. (Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Anil D'Silva and Sagarika Jaisinghani)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF NEW YORK MELLON CORPORATION (THE) -2.50% 36.73 Delayed Quote.-27.02%
DJ INDUSTRIAL -2.29% 27685.38 Delayed Quote.-2.99%
GENERAL MOTORS COMPANY -2.74% 35.82 Delayed Quote.-2.13%
JPMORGAN CHASE & CO. -2.48% 101.24 Delayed Quote.-25.53%
LONDON BRENT OIL 0.25% 40.51 Delayed Quote.-37.71%
NASDAQ 100 -1.61% 11504.518824 Delayed Quote.31.74%
NASDAQ COMP. -1.64% 11358.936824 Delayed Quote.26.60%
NIKOLA CORPORATION -7.23% 20.91 Delayed Quote.102.62%
S&P 500 -1.86% 3400.97 Delayed Quote.5.27%
UBS GROUP AG -0.54% 11.13 Delayed Quote.-8.43%
WTI 0.29% 38.65 Delayed Quote.-36.11%
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Financials (USD)
Sales 2020 0,11 M - -
Net income 2020 -417 M - -
Net cash 2020 519 M - -
P/E ratio 2020 -18,8x
Yield 2020 -
Capitalization 7 924 M 7 924 M -
EV / Sales 2020 66 918x
EV / Sales 2021 90,7x
Nbr of Employees 256
Free-Float 37,5%
Duration : Period :
Nikola Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends NIKOLA CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 6
Average target price 42,00 $
Last Close Price 20,91 $
Spread / Highest target 278%
Spread / Average Target 101%
Spread / Lowest Target -28,3%
EPS Revisions
Mark A. Russell President, Chief Executive Officer & Director
Stephen J. Girsky Chairman
Kim J. Brady Chief Financial Officer & Director
Dane Davis Chief Technology Officer
Isaac Sloan Chief Information Officer & Software Architect
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