Why VectoIQ Stock Is Soaring Again Today

Shares of VectoIQ Acquisition (NASDAQ: VTIQ) were up again on Tuesday, as the company closed in on its much-anticipated merger with electric heavy-truck maker Nikola Motors.

As of 11:45 a.m. EDT today, VectoIQ's shares were up about 20.6% from Monday's closing price, and up about 86% since the beginning of May.

VectoIQ is a holding company led by former General Motors vice chairman Steve Girsky. It has no real business of its own, but it has drawn a lot of interest from auto investors lately because of its plan to merge with Nikola Motors. VectoIQ's stock has had an especially strong run in the last few sessions, after the company confirmed in a series of regulatory filings that the merger is on track to close in early June.

Source Fool.com