Why GX Acquisition Stock Soared Today
Shares of GX Acquisition (NASDAQ: GXGX) were soaring 26.8% as of 3:33 p.m. EDT on Friday. The big jump came after the special purpose acquisition company (SPAC) closed its merger with Celularity, a clinical-stage drugmaker focused on developing off-the-shelf cell therapies.
GX Acquisition announced plans to merge with Celularity in January 2021. The two companies initially expected the deal to close by May 23, but the date was pushed back to provide time to address questions raised by the Securities and Exchange Commission.
Image source: Getty Images.
Source Fool.com
