Nikola Shares Rise on Unconfirmed News of Deal With GM

Electric-car seller Nikola  (NKLA) – Get Report shares were riding a bit of a roller coaster on Wednesday morning.

First, they soared after a posting reportedly on General Motors‘  (GM) – Get Report website indicated GM agreed to make the Nikola Badger model and to be the exclusive supplier of Hydrotec fuel cells, Seeking Alpha reports.

But then Nikola shares slipped from their high after both GM and Nikola said they have no news to report, according to Seeking Alpha.

Nikola shares recently traded at $24.47, up 11.26%. But they fell back from a high of $26.20 to $23.78 after the GM news was released and then denied, before recovering. The stock has soared 144% year to date.

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