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Why VectoIQ Stock Surged Over 15% on Tuesday

TheMotleyFool

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Why VectoIQ Stock Surged Over 15% on Tuesday

Shares of VectoIQ Acquisition (NASDAQ: VTIQ) closed higher on Tuesday, as the stock resumed its upward run ahead of the closing of its merger with electric big-rig truck maker Nikola Motor. VectoIQ's shares ended Tuesday's session at $25.18, up 15.4%.

Shares of VectoIQ, a special-purpose acquisition company that is set to merge with Nikola Motor next month, have had a wild run since the beginning of May. The stock took a dive last week, but it resumed its upward run on Tuesday.