https://wccftech.com/nikola-nasdaq-nkla-shares-decline-as-jp-morgan-sees-elevated-short-term-risks-ahead/

Nikola (NASDAQ:NKLA) has certainly rocked the entire EV space over the past few weeks. Despite not earning even a dime in revenue until 2021, the company’s share price has been on a tear, wracking up year-to-date gains of over 500 percent. However, today JP Morgan (NYSE:JPM) has injected a cautionary tone in Nikola’s ongoing saga, initiating coverage with a ‘Neutral’ rating while acknowledging “elevated” short-term risks.

JP Morgan analyst Paul Coster stamped a ‘Neutral’ rating on Nikola’s high-flying stock today, designating a $45 price target for the company’s shares. This translates to a downside potential of 31.71 percent relative to the closing price of $65.90 on Friday.