Why Nikola Stock Is Surging Today
Shares of embattled electric-truck start-up Nikola (NASDAQ: NKLA) were trading higher on Wednesday, after CNBC's auto industry reporter said General Motors (NYSE: GM) might take a larger stake in Nikola than previously expected.
As of 11:30 a.m. EDT, Nikola's shares were up about 13.9% from Tuesday's closing price.
In a report on the network on Wednesday morning, CNBC's Phil LeBeau said that while Nikola and GM have yet to come to a deal, talks are ongoing -- and auto investors shouldn't be surprised if GM takes a larger stake in the truck start-up than the roughly 11% it agreed to earlier in the month.
Source Fool.com
