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Stocks On The Move: Nikola shares jump, Disney slumps amid lay off announcement

Yahoo Finance's Adam Shaprio breaks down how Nikola and Disney are faring on Wednesday.

Video Transcript

ADAM SHAPIRO: Checking stocks on the move right now. Nikola, shares of Nikola are up, what, about 9% right now. As you take a look at that, they're up 9.5%. Got a couple of things going on right now with Nikola. First, General Motors had been in discussions to extend their discussions for the 11% stake they're buying of Nikola, the two billion. That deal was supposed to close by the end of today. Also, the company has announced its rescheduling its in-person Nikola World Conference. That's usually the place where they were going to show the electric pickup truck that is at the center of the controversy around this company.

Then there's Disney. Shares of Disney right down right now are trading down about 1%, not quite. The company, as you know, announced plans yesterday to lay off 28,000 people as its theme parks in California. We're going to talk more about this when we come back.