said it lost $ 86.6 million, or 33 cents per share, in the quarter, compared to a loss of $ 16.8 million, or 6 cents per share, the year before. Adjusted for one-time items, Nikola lost 16 cents per share in the quarter.
Related:Chinese electric car maker Li Auto soars 50% after IPO
Nikola went public in June, and shares doubled soon after.
Within days, Tesla Inc. TSLA,
Chief executive Elon Musk urged his company to “do it all” with the Tesla Semi, the Silicon Valley automaker’s long-haul electric truck, which is expected to be available in 2021.
See also:Nikola on his way to ‘disrupt transport’, says JP Morgan
Nikola’s popularity is also part of a wave of IPOs through a Special Purpose Acquisition Company, or SPAC, also known as blank check companies. Electric car maker Fisker Inc. has also chosen to go public through a SPAC.
Nikola shares have gained 273% this year, compared to gains of around 2% for the S&P 500 SPX,
and contrasting with a loss of around 6% for the Dow Jones Industrial Average. DJIA,