Why Social Capital Hedosophia Holdings Stock Just Popped 12%

Shares of special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings II (NYSE: IPOB) are up 12.5% as of 3:40 p.m. EST. Social Capital Hedosophia Holdings may not hold onto all of those gains much longer, but Opendoor might.

This morning, shareholders of the SPAC voted to approve its acquisition of "iBuying" specialist Opendoor Labs in a deal that will probably close tomorrow. (iBuying is basically the process of using algorithms to determine the value of a piece of real estate and buying it sight unseen.)

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Source Fool.com