Dividend Stocks

NKLA Stock Alert: What to Know as Nikola Announces New COO

Nikola (NASDAQ:NKLA) stock is on the move Tuesday after the electric vehicle (EV) company announced Mary Chan as its next Chief Operating Officer.

Chan will take over the COO role at Nikola starting on Oct. 9. This appointment will have her leading the company’s engineering, program, product, supply chain and manufacturing teams. She previously worked as a Managing Partner at VectoIQ, which helped Nikola with its public launch.

Outside of that, Chan has held various executive roles over the years. Among these are President of the Global Connected Consumer group at General Motors (NYSE:GM), Senior Vice President and General Manager of Enterprise Mobility Solutions & Services at Dell (NYSE:DELL) and President of 4G/LTE Wireless Networks at Alcatel-Lucent.

Steve Girsky, president and CEO of Nikola, said the following about Chan joining the team.

“Mary brings a solid understanding of business, combined with extensive experience in technology and transportation, spanning both engineering and management. Her expertise will be a tremendous asset to the Nikola team.”

NKLA Stock Movement on Tuesday

Investors in Nikola stock will note that some 63 million shares of the company’s stock have changed hands as of this writing. To put that number in perspective, the company’s daily average trading volume is closer to 88 million shares.

NKLA stock is down 11.3% as of Tuesday morning. The EV company’s stock is also down 36.6% since the start of the year.

Investors seeking out even more of the most recent stock market stories are going to want to stick around!

InvestorPlace is home to all of the hottest stock market news that traders need to know about on Tuesday! That includes why shares of Nio (NASDAQ:NIO) stock is falling today, the biggest pre-market stock movers this morning, and more. All of that news is ready to go at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.