Nikola Stock Outlook: Insights Into Growth and Profitability Trends for 2024

Despite the recall, Nikola plans to keep on truckin'

Last summer, things heated up for Nikola -- and not in a good way. After several of its battery electric trucks caught fire due to faulty battery packs, Nikola issued a recall in August. Based on management's commentary during the company's recent fourth quarter 2023 conference call, however, it seems as if the company is past this pothole.

Nikola's putting a lot of energy into its energy business

In January 2023, Nikola announced...development of six additional Hyla stations in Southern California and three stations in Northern California by the end of 2024.

What's coming down the road regarding the financials

Addressing the year ahead, Steve Girsky, Nikola's CEO, stated that...s still extremely speculative. It's still unclear whether Nikola will see continued demand for its hydrogen fuel cell trucks and to what degree the company's Hyla business can be a profitable endeavor, if at all.