Stocks ended sharply lower Tuesday. Tech shares continued to slide while President Trump promised to end the country's reliance on trade with China.
Here are some of the big movers in the stock market on Tuesday:
1. Nikola | Percentage Increase 40%
Nikola Corp. NKLA shares soared after General Motors (GM) - Get Report said it would take a $2 billion stake in the electric-truck startup. GM said it would receive an 11% stake in Nikola, as well as the right to nominate a director to the board.
2. Luby's | Percentage Increase Over 111%
Luby’s (LUB) - Get Report shares skyrocketed Tuesday after the restaurant chain said it had decided to liquidate. The company, which includes Luby’s, Fuddruckers and Cheeseburger in Paradise, was hammered by the coronavirus pandemic, just like its competitors.
3. New Fortress Energy | Percentage Increase Over 10%
New Fortress Energy Inc. (NFE) - Get Report moved up after the gas-to-power infrastructure company said it had completed its $1 billion 144A/Reg. S high-yield senior secured notes offering. The transaction closed on Sept. 2.
4. Virgin Galactic | Percentage Increase Over 9%
Virgin Galactic (SPCE) advanced after UBS initiated coverage of the spaceflight-services company with a buy rating and a $25 price target. The investment firm predicted that a $38 billion per year space tourism industry would emerge by 2030.
5. Albireo Pharma | Percentage Increase Over 44%
Albireo Pharma (ALBO) - Get Report climbed after the biopharmaceutical company reported positive data from a Phase III clinical trial for odevixibat, its treatment for progressive familial intrahepatic cholestasis.