Why Social Capital's SPAC Jumped 20% This Morning
Shares of special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings II (NYSE: IPOB) jumped by more than 20% when trading opened Tuesday, and were up by 18.7% as of 11:05 a.m. EDT. The jump occurred after the SPAC announced it was acquiring Opendoor, an online real estate marketplace.
Social Capital's founder, Chamath Palihapitiya, called Opendoor his "next 10x idea" in a CNBC interview.
Source Fool.com
