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Stocks On The Move: Nikola shares jump, Tesla dips despite strong Q3 vehicle deliveries

Yahoo Finance's Adam Shapiro highlights Friday's trending stocks, Nikola and Tesla.

Video Transcript

ADAM SHAPIRO: Let's check some stocks which are on the move this morning. We've been talking about Nikola all week. Remember, this was the week they were supposed to close the deal with General Motors, those talks now extending. Shares of Nikola were up roughly 6% at the opening bell. They're up now about 2.8%.

Here's what's going on-- GM is negotiating this deal in which they were going to take 11% stake in the startup. But there are rumors, there's a discussion going on in Bloomberg's Automotive News that perhaps GM might actually look to acquire a bigger stake in the electric truck maker. So that is helping, perhaps, shares of Nikola, up about 2.3% right now.

Then there's Tesla. So we heard Elon Musk talking about push, push, push for delivery of vehicles. Well, guess what they did? They delivered a record number of cars worldwide in the third quarter.

That was beating analysts' estimates. That number came in at 139,300 vehicles. They produced a number greater than that, obviously. So they were looking for 140,000, not too far off of that. Shares of Tesla, however, right now are off about 3.3%.