A Top Stock To Watch And Buy For The August 24-28, 2020 Trading Week.

Stock picking is tough. Stock investing is riskier, compared to mutual funds. But picking and holding the right stock over the long term can make you wealthy. Here's our top stock pick for the August 24-28, 2020 trading week. You can check out our previous weekly stock picks.

World stock markets have somewhat recovered from their coronavirus pandemic March 2020 lows, but there are still lucrative opportunities out there. Each weekend, we will attempt to highlight a stock we think has great future upside, and could deliver solid returns in the near to long term. Without further ado, our top stock pick for the August 24-28 trading week is...

Nikola Corporation (NKLA)

Let's take you to the Consumer Cyclicals sector and Auto Manufacturers industry with Nikola Corporation (NKLA). Nikola Corporation "operates as an integrated zero emissions transportation systems provider. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. The company also develops electric vehicle solutions for military and outdoor recreational applications." Learn more about Nikola Corporation. 

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Nikola the Disruptor

Nikola is already being recognized for its disruptive potential. It is the global leader in the manufacture of trucks that use a combination of electric motors and hydrogen fuel cells. Nikola is well-positioned to helping society reduce carbon dioxide emissions. The company started publicly trading on the Nasdaq on June 4, 2020, after a special merger with VectorIQ Acquisition Corporation. The opening price was $37.55. The stock hit a 52-week high of $93.99 on 06/09/2020, as investor enthusiasm picked up momentum. However, the stock has since given back most of those monster gains. It is currently trading at $39.37. We are very optimistic about Nikola.

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Products

Nikola Corporation is a pioneer of zero-emission trucks. The company has many products in development. Here are just a few of them.

Partnerships & Milestones

While many consider the enthusiasm associated with NKLA as theoretical at this point, the company has already set production goals in Germany. The company has already started building prototypes for its heavy-duty battery-electric model. Also, last month, the company broke ground on a $600 million Arizona manufacturing facility to start building hydrogen big rigs. Recently, the company has secured a minimum order of 2,500 electric refuse trucks with Republic Services. For a more in-depth look at the many partnerships and milestones of Nikola, we invite you to take a look at the media and press releases page.  

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NKLA Historical Performance

Below are the historical returns for NKLA. Where appropriate and available, we display returns for the S&P 500 for comparison. Returns data are courtesy of MarketWatch. Data is current as of the article publication date.

The bottom line

The secret to building sustainable wealth is two-fold: invest in companies with solid business fundamentals; hold them for the long term. We believe Nikola Corporation has a remarkable future ahead. While Nikola may not command the same passionate fan base as Tesla at the moment, Nikola's future is bright. The company is being run by a passionate, disruptive, innovative leader and Executive Chairman: Trevor Milton. As long as he is at the helm, we're taking our shot at the future. Nikola is the future.

Do you have great stock ideas? Please share with us in the comment section.

Disclosure: We are long NKLA. This article expresses our opinions. We do not receive compensation from the companies highlighted, nor do we have any business relationships with them. All data is current as of the date of article publication. This article contains affiliated links to investment products. We may receive a commission through those links when you join the partner. Information presented here should not be construed as financial advice. You are always encouraged to conduct your own research. Our full disclaimer.

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