SPAC Mania: Here's Why Opendoor's Acquirer Is Soaring on Friday

The stock market was having a strong day on Friday, but not compared with Social Capital Hedosophia Holdings II's (NYSE: IPOB). Best known for being the special purpose acquisition company, or SPAC, that plans to take real estate tech company Opendoor public, it was up by 15% as of 12:30 p.m. EDT.

There isn't any company-specific news out today that is propelling the SPAC higher. However, there is a ton of activity elsewhere in the SPAC world that could be creating investor interest.

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Source Fool.com