Why VectoIQ Stock Popped 12% This Morning
You probably haven't ever heard of VectoIQ Acquisition Corp. (NASDAQ: VTIQ) before -- and that's OK.
Up until now, VectoIQ has been just what the name implies -- a company that does nothing, and earns nothing, and that was created for the sole purpose of acquiring some other company that does do something (and ideally, that does earn something).
Today, VectoIQ will finally fulfill its purpose, as it announces the acquisition of privately held, Utah-based Nikola Corporation -- and sees its stock rise 12.4% (through 9:50 a.m. EST) in response.
Source Fool.com
