NKLA stock price hovers near $6.28 while the NASDAQ composite sees mixed movement. Fund managers highlight Nikola’s operational efficiency gains as potential catalysts for medium-term share appreciation. With the business burning cash at a rapid pace, Nikola will need to secure new funding through new stock sales or taking on debt. The company has a poor track record when it comes to executing and fulfilling promises, and its weak business momentum and financial position suggest that the stock won't work out as a long-term investment. Right now, it’s difficult to recommend Nikola based on technical, fundamental and expert analysis. The stock has many concerning metrics and analysts rate it a Hold with ever-declining price targets. NKLA stock price climbed to $6.34 in pre-market trading, fueled by news of a potential new fleet order. Short interest remains elevated, which could trigger sharp moves if bullish catalysts emerge in the coming weeks.