Here's the Latest EV SPAC to Hit the Stock Market; L Brands Gets Back on Top
The stock market has eased off on the throttle after a wild start to November, and the calm period continued on Thursday morning. Enthusiasm about the holiday season was tempered by nervousness over coronavirus-inspired restrictions, and market participants gravitated toward the stocks they were most comfortable with in uncertain times. As of 11:30 a.m. EST today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 86 points to 29,352, and the S&P 500 (SNPINDEX: ^GSPC) had fallen 2 points to 3,565. But the Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 67 points to 11,869.
Within the market, the electric vehicle (EV) industry has gotten a huge amount of attention. That continued today as momentum built over another special purpose acquisition company (SPAC) that is targeting a privately held player in the EV niche. Meanwhile, intimate apparel and personal-care products giant L Brands (NYSE: LB) got a nice lift after reporting its latest financial results.
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Source Fool.com
