The Merger

One of the most hyped up stocks is currently experiencing a heavily anticipated run up, just as I had mentioned in my Week Ahead post found on our Home page. On May 21st, VTIQ opened trading at 23$ and closed today at $27.50, but it pushed $30 at one point today as well as another time since the 21st. If it wasn’t for a huge market sell off in the last hour of trading today, the special acquisition company probably would’ve comfortably finished above $29.25. Regardless of the sell off, VTIQ looks very strong heading into the merger vote on June 2nd. Should this get passed which many analysts believe is very likely, VTIQ will take on the new symbol of NKLA (the merger is with Nikola Motors). Together the companies will work on becoming the leader of smart trucks by utilizing artificial intelligence to make shipping American products even more efficient. The anticipation of the merger is being received well giving people a reason to buy in now. If you are already in, what matters more is what the potentially approved merger can mean in the short term.

-Darnel Shillingford

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