Here's Why Chamath Palihapitiya's Fifth SPAC Is Soaring Today

One of famous venture capital investor Chamath Palihapitiya's special-purpose acquisition companies, or SPACs, was soaring on Thursday. As of noon EST, Social Capital Hedosophia Holdings V (NYSE: IPOE) was higher by 30%, and shares had been halted.

As is usually the case when predeal SPACs suddenly move sharply, this "blank check" company had just found its acquisition target. And it's a big one.

Image source: Getty Images.

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Source Fool.com