This SPAC Is Soaring on Tuesday

The stock market was generally higher on Tuesday as investors were hopeful for the possibility of further stimulus after the Biden administration moves into the White House. But one special purpose acquisition company, or SPAC, was performing especially well.

Social Capital Hedosophia Holdings V (NYSE: IPOE) was soaring. As of 1:20 p.m. EST, the Chamath Palihapitiya-led SPAC was higher by about 14% after rising by more than 20% earlier in the day.

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Source Fool.com