Why Shares of Fisker SPAC Spartan Energy Acquisition Rose Just 14.9% in July
Shares of special-purpose acquisition company (SPAC) Spartan Energy Acquisition (NYSE: SPAQ) rose 14.9% in July, according to data provided by S&P Global Market Intelligence. That number, though, doesn't tell the whole story.
In fact, shares were up more than 50% as of July 9, but they eased back down throughout the month with a particularly sharp 10% drop on the last day of July. Still, the SPAC's shares outperformed the S&P 500's 5.5% July gain.
Image source: Getty Images.
Source Fool.com
