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After Market Hours: Nikola, Borr Drilling, Hertz Gain; Chesapeake Energy Tanks

Nikola Corp. (NKLAW), the competitor of electric auto maker Tesla Inc. (TSLA), continued its strong growth even after market closed on Monday. The stock gained 20% in extended trading session on top of 54% gained in regular hours. The company on Monday announced that it will begin taking reservations on June 29 for its new electric truck, the Badger.

Nikola Corp. was founded in 2016 and is focused on building electric and fuel cell powered trucks. The company, which went public last week through a reverse merger with VectoIQ Acquisition Corp., has witnessed its shares surge over 600% since announcing the deal in March.

Shares of offshore drilling contractor Borr Drilling Limited (BORR) gained over 22% in after-hours trading Monday. The company had closed its regular trading up 126%. Keppel Offshore & Marine had announced that it signed a framework deed to defer the scheduled delivery of five jack-up rigs to Borr Drilling to 2022. The Norwegian company also obtained significant amendments to facilities from its secured lenders and shipyards that will provide total liquidity improvement of more than $315 million until first quarter of 2022.

Shares of Hertz Global Holdings, Inc. (HTZ) further jumped 22% in extended session on top of a 115% gain in active trading on Monday. The car rental company's stock has witnessed significant growth for the past three working days, which has offset its losses suffered after declaring bankruptcy last month, due to mounting debts amid COVID-19 pandemic. The stock has now gained nearly 525% in three days, and almost 10-fold since closing at a record low of $0.56 on May 26.

Shares of Chesapeake Energy Corp. (CHK), tanked over 44% in the extended session Monday driven largely by a Bloomberg News report that said the natural-gas company intends to file for bankruptcy. Chesapeake had nearly tripled in the regular trading day, closing nearly up 181%, after energy stocks were driven by OPEC's agreement agreed to extend oil production cuts by one month.

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