Why DiamondPeak Holdings Jumped 10% Today
Shares of DiamondPeak Holdings (NASDAQ: DPHC) rose as much as 12.5% Friday, and are currently 10% higher, as of 2:15 p.m. EDT. The special purpose acquisition company (SPAC) announced news on its plans to merge with aspiring electric-truck maker Lordstown Motors.
DiamondPeak announced Thursday that it has set Oct. 22, 2020, as the meeting date for a vote to approve its planned merger with Lordstown Motors. Investors are reacting to the definitive meeting date, even though it's been anticipated since the SPAC announced plans of the merger on Aug. 3.
Image source: Lordstown Motors.
Source Fool.com
