Retail investor chatter climbed on Stocktwits early Wednesday as reports surfaced that Nissan’s board plans to reject Honda’s proposed merger terms. The Wall Street Journal, citing sources familiar with the discussions,

Nissan shares plunged on Wednesday after Japan's Nikkei business daily said the carmaker had decided to withdraw from merger talks with rival Honda.But the smaller automaker's chief said this week it would make a final decision on whether to join the Honda-Nissan merger talks in mid-February or later.

Honda shares surged on Wednesday as Japanese media said the automaker had proposed making its struggling rival Nissan a subsidiary.