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Stocks on the Move: Nikola stocks up on analyst 'buy' rating, Airline stocks up on TSA traveler topping 1M

Yahoo Finance's On the Move panel discuss today's Stocks on the Move: Nikola, American Airlines and Southwest Airlines.

Video Transcript

ADAM SHAPIRO: Let's check some stocks as we head to break. First, let's check Nikola because in the first 30 minutes of trading, the shares were up about 10%. But as you can see right now, they're not quite as high as they had been, but still trading higher.

Here's what's going on. JP Morgan analyst Paul Coster reiterated his rating on the electric vehicle maker. GM still negotiating to purchase a roughly 11%, perhaps 12%, stake in the company. Keep your eyes on December 3, which is when Coster believes this deal will still close.

But over the weekend, we heard from Nikola's chief executive, Mark Russell, who said that the company could actually manage if GM decides to walk away from the deal. That upset investors on Friday. But this morning, they seem to be looking past that, based on the JP Morgan note.

Then let's take a look at what's happening with some of the airlines. We will hear from Southwest and American Airlines this week on the 22nd. American Airlines right now trading higher by about 2.3%. You got shares of LUV, Southwest, up about 2%.

Want to let you know that over the weekend, for the first time, the TSA says one million people passed through airport security in the United States. That's the most since March 16.

But according to the Airlines for America, the lobbying group, they're saying that passenger volume is still down dramatically, about 64% year over year. Net booked revenue is still down 80% for the airlines, which, collectively, are burning $5 billion of cash per month.