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Nikola shares surge as much as 22% on garbage truck order for Republic Services

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Shares of Nikola surged by as much as 22% on Monday morning after the company confirmed an order of thousands of all-electric refuse trucks for Republic Services.

The order includes 2,500 electrified chassis, with the option to increase it up to 5,000 units, the aspiring zero-emissions truck manufacturer said in a release. The company expects manufacturing and testing of the trucks to begin in early 2022, followed by deliveries in 2023.

The company’s shares jumped 22% in morning trading to an intraday high of $44.80 a share before retrenching to around $43.23 a share, or up nearly 18%. 

The announcement of a commercial order is one of three milestones Nikola promised investors it would…



Source cnbc.com

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