Why Pivotal Investment Stock Jumped 25% Today

Shares of special purpose acquisition company (SPAC) Pivotal Investment II (NYSE: PIC) jumped more than 25% at the open Monday morning. Today is the day shareholders are expected to approve the company's merger with vehicle electrification company XL Fleet. 

The newly combined company will trade on the New York Stock Exchange under the symbol XL. This isn't news, but one famous stock picker said the shares "could be a steal."

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Source Fool.com