While “record highs” were normal for broader markets in the first half of 2024, the reverse seems to be true for almost all of the startup green energy companies, which have regularly fallen to fresh lows. Nikola (NKLA) perhaps deserves a special mention, and will feature prominently if someday a post mortem of the electric vehicle (EV) bubble is written.
As one of the first green energy companies to capitalize on the special purpose acquisition company (SPAC) boom of 2020, Nikola became a flag bearer of the renewable energy euphoria - just as GameStop (GME) was for the meme stock mania.
