Why Shares of Dave Exploded Today

Shares of the fintech company Dave (NASDAQ: DAVE) skyrocketed as much as 44% today before trading halted due to volatility. Trading has since resumed, with shares of Dave up nearly 28% as of 11:30 a.m. EST for no obvious reason.

Last year, the blank-check company VPC Impact Acquisition Holdings III announced it would merge with and take the digital banking app Dave public at a $4 billion enterprise value. Last week, Dave began trading on the NASDAQ independently.

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Source Fool.com