UAW strike trade fades, as GM and Ford stocks turn higher and Tesla shares drop

So much for the Big 3 automakers’ labor strike spooking investors, as shares of General Motors Co.
GM,
+0.88%
and Ford Motor Co.
F,
-0.36%
both turned positive moments after Friday’s opening bell, while Stellantis N.V.’s stock
STLA,
+1.11%
was always higher. And while Tesla Inc. was seen as a big beneficiary of the Big 3 legacy automakers’ labor troubles, the electric vehicle giant’s stock
TSLA,
-0.45%
turned lower. GM’s stock rose 1.8% in morning trading, reversing a 0.7% post-open loss and a decline of as much as 2.1% premarket; Ford’s stock was up 0.8%, after being down as much as 2.3% premarket and as much as 1.7% after the open; Stellantis shares were up 1.4%, after being up just 0.3% earlier. Tesla’s stock slumped 1.5%, after being up as much as 1.1% as the opening bell rang.