NKLA stock was trading at $2.8700 as of 02:26 PM EDT.
The Inflation Reduction Act, according to Nikola (NASDAQ:NKLA), will enable more affordable infrastructure for hydrogen supply and dispensing while also giving the company’s zero-carbon hydrogen energy business model a major boost. Nikola’s planned portfolio is expected to experience lower costs as a result of the new legislation and other climate incentives, adding value to Nikola’s integrated business model.
Importantly, the IRA incentives for energy and zero-emission truck manufacturing companies are anticipated to substantially increase Nikola’s zero-emission trucks’ ability to compete on a total cost of ownership basis when compared to conventional diesel cars and open up new growth opportunities.
“Given the planned We think Nikola is best positioned to profit from the size of our hydrogen business model and our early mover advantage. practically every component of the law at a scale ahead of existing industry competitors,” said CEO Michael Lohscheller.
Earning expectations likely to impact Nikola stock performance
Over time, Nikola (NASDAQ:NKLA) will gain from production and investment tax credits, direct pay provisions, and other benefits that are anticipated to cut the cost of hydrogen, dispensing infrastructure, and trucks for Nikola and its clients. During the first week of November, Nikola (NASDAQ:NKLA) is anticipated to report earnings.
As the deadline for the next earnings report draws near, Wall Street will be looking for Nikola to deliver. November 3, 2022, is predicted to be the date. On that day, Nikola is anticipated to post earnings of -$0.39 per share, a 77.27% drop from the prior year. Investors should keep track of any recent modifications to expert forecasts for Nikola. These updates often take into account the most recent, cyclical short-term business developments. Positive estimate revisions, therefore, represent analyst optimism over the company’s operations and profitability.
Our investigation leads us to conclude that these estimate adjustments are a direct result of near-term stock movements.
Investment Seeking By Nikola; Romeo Buyout Proceeding
Featured Image – Megapixl © Timonschneider
Author Jowi Kwasu 
