Why Interprivate Acquisition Stock Jumped Today

Investors have shown accelerated interest in lidar sensor maker Aeva recently, driving up the stock of the special purpose acquisition company (SPAC) with which it will be merging. Shares of InterPrivate Acquisition (NYSE: IPV) have surged more than 30% in the last two weeks, including a gain of 6.4% on Tuesday. Shares had jumped more than 18% earlier in the market session today.

Today's jump comes after the Aeva CEO appeared on CNBC's Mad Money with Jim Cramer last night. On the program, Aeva CEO Soroush Salehian said the company's 4D lidar technology -- which will be used to help advance autonomous vehicles -- will be in production by 2024. The company is backed by automaker, and Volkswagen (OTC: VWAGY) parent, Porsche SE.

Source Fool.com