Why Collective Growth Shares Jumped Today

Shares of Collective Growth (NASDAQ: CGRO) moved up today after news from Friday that it is merging with a lidar sensor company. After jumping almost 10% Monday morning, the stock has settled to a gain of 2.5% at 11:30 a.m. EST.

The company is merging with Innoviz Technologies in a move that will allow Innoviz to trade on the Nasdaq stock exchange under the new symbol INVZ. The announcement officially confirmed a prior rumor about the combination.

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Source Fool.com