Electric vehicle stocks have recently been pulling back, but none more so than Nikola (NKLA). The electric/hydrogen-fueled truck maker had been the darling of the stock market in recent months. However, short selling attacks have sent the stock into a tailspin.
The CEO has stepped down and the company appears to be in turmoil. Options action doesn’t paint any brighter of a picture for NKLA, with January 2022 far out-of-the-money puts being purchased in what could be protection against the stock going to zero.
