Nikola stock soars after confused investors think GM deal has closed

Enlarge / GM CEO Mary Barra.

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Nikola stock rose 15 percent on Wednesday after confused investors apparently mistook a month-old GM website for a brand-new announcement about the companies’ pending agreement. The stock is up another 7 percent as I write this on Thursday morning.

Shortly before 10am ET on Wednesday, people began sharing links to this GM page on social media.

“We signed an agreement with Nikola to engineer and manufacture the Nikola Badger,” the GM page said. Nikola’s stock price soared from $22.23 at 9:30am to $24.94 at 10am—a 12-percent jump in 30 minutes.


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