What to watch out for in NKLA's upcoming earning report:

Nikola Corporation (NKLA) is going to report earnings on August 04. Here's a few things you should know about before the report drops.

Analysts are estimating Nikola Corporation will report an EPS (earnings per share) of -$0.27, GAAP Estimate
-$0.39, on revenues of $16.58M. Over the last 90 days there have been two upward revisions and 4 downward. 

There are two primary things that NKLA bulls will be concerned with. The first is that the reported EPS beat the estimates of analysts. Stocks respond favorably to that news. The second is that the report outlines a positive growth story for the stock in the coming quarters.

Meanwhile, out of a dark cave, NKLA bears will lumber into the light. They'll want to hear that the company underperformed the analysts' estimates and is set to decline in coming quarters. The less rosy the report, the happier bears will be.

Regardless of which side of the fence you're on, it's important to note that sometimes the company's earnings report plays less of a role in moving the price than the analysts' estimates. This is because the company's earnings report is a snapshot of the company's performance, and the analysts' estimates are a consensus projection of the company's future.

As of July 27 shares of NKLA are trading at $5.75. Over the last 52-week period, the price is down -63.05%. A larger move here can mean investors will have a stronger bullish or bearish outlook on the stock.