Nikola Shoots up Nearly 5 Percent as Judge Allows Its Patent Lawsuit Against Tesla to Continue

Tesla's new electric semi truck is unveiled during a presentation in Hawthorn, California, on Nov. 16, 2017. Alexandria Sage/Reuters

Shares of the pre-production electric automaker Nikola Corp. shot up on Tuesday.

The Numbers

Shares of the trucking startup rose 4.74 percent to close at $11.48 on Tuesday. Nikola shares are down 28.6 percent so far this year.

The stock has a 52-week high of $37.95 a share and a 52-week low of $9.02.

Why Is It Moving

Shares popped higher after Northern District of California judge James Donato said Nikola’s $2 billion patent lawsuit against Tesla Inc. can proceed.