Nikola Corp ( NKLA ) shares have been volatile to start the week. The stock is trading slightly higher Wednesday after falling more than 7% on Tuesday. Here’s what you need to know.

What To Know: Nikola ( NKLA ) shares have been trending higher on upward momentum since the company announced last week that it sold more trucks than it expected to in the second quarter. The EV stock added 16% on Monday and now appears to be trying to regain its footing after taking a breather on Tuesday.

Nikola ( NKLA ) said it wholesaled 72 Class 8 hydrogen fuel cells trucks in the second quarter, which was above the high end of its truck sales guidance of 60 units. The company also noted that it wholesaled a total of 112 trucks in the first half of the year.

"We have maintained our 2024 momentum with solid wholesale numbers, new customers such as Walmart Canada, and repeat customers like 4GEN and IMC, purchasing vehicles through our dealer network," said Steve Girsky, CEO of Nikola ( NKLA )

The bounce back in Nikola ( NKLA ) shares comes with the stock down more than 60% since the start of the year and nearly 77% over a one-year period. The stock continues to see positive momentum in July after it hit all-time lows last month following a 1-for-30 reverse stock split to comply with Nasdaq requirements for continued listing.

Nikola ( NKLA ) on Tuesday scheduled its second-quarter earnings call for Aug. 9. The EV maker is expected to report a loss of $2.80 per share and revenue of $25.688 million, according to estimates from Benzinga Pro.

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NKLA Price Action: Nikola ( NKLA ) shares were down 1.96% at $9.559 at the time of publication, according to Benzinga Pro.