Returns as of 10/20/2020. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Stock Market Wrap-Up: Will VectoIQ Boom Like DraftKings or Sink Like Virgin Galactic? Real time VectoIQ Acquisition Corp. (VTIQ) stock price quote, stock graph, news & analysis. Image source: Nikola Motor. Why VectoIQ Stock Is Soaring Again Tuesday, Why VectoIQ Acquisition Stock Is Surging Today, Why Shares of VectoIQ Acquisition Are Falling Today, Why VectoIQ Acquisition Soared 28% Wednesday, Why VectoIQ Stock Popped 12% This Morning, Copyright, Trademark and Patent Information. 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 … Once the deal is done, Milton will become executive chairman of the new company, current Nikola president Mark Russell will become its CEO, current Nikola chief financial officer Kim Brady will remain in that role, and Girsky will join the board of directors. Sure, we've all heard a lot about Tesla's (NASDAQ:TSLA) oft-delayed Semi, which Tesla now says will go into "limited production" (whatever that means) sometime in 2021. In a nutshell, Nikola will become a wholly owned subsidiary of VectoIQ. Assuming it passes (which seems very likely as of now), the company's name will change to Nikola Corporation and its ticker symbol to NKLA. Existing Nikola shareholders will receive 1,901 shares of VectoIQ stock for each of their Nikola shares. VectoIQ spent about two years looking for a later-stage company to acquire, settling on Nikola earlier this year. Shares of VectoIQ Acquisition (NASDAQ:VTIQ) have had a huge run since the beginning of May, rising over 130% through the market's close on May 13. Nikola also has a strong selling point for its fuel-cell trucks: It's taking a page from Tesla's book and building its own "recharging" network, in this case hydrogen refueling stations. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Why VectoIQ Stock Surged Over 15% on Tuesday. That said, VectoIQ did issue a press release this morning, in which it reminded its shareholders to vote and return their proxy cards before the meeting. @themotleyfool #stocks $VTIQ $GM $TSLA $MMTOF $CNHI $APTV, Done Deal: VectoIQ's Merger With Nikola Motor Has Closed. The single most important factor in a company's success is the team that's leading the company. Stock Market Wrap-Up: Will VectoIQ Boom Like DraftKings or Sink Like Virgin Galactic? I expect that VectoIQ and Nikola will provide auto investors with more information as we get closer to that date. Even with some dramatic volatility, VectoIQ's share price has more than doubled since the beginning of May. It's not hard to figure out why: VectoIQ, a special purpose acquisition company (or "SPAC") led by former General Motors (NYSE:GM) vice chairman Steve Girsky, is expected to complete a merger with privately held Nikola Motor in June -- and Nikola Motor is a leader in the race to build zero-emission semi trucks. See you at the top! Get today's Nikola Corporation stock price and latest VTIQ_old news as well as VectoIQ real-time stock quotes, technical analysis, full financials and more. Why the big run? It's a small company, made up of veterans of GM and Mitsubishi Motors together with experts in corporate transactions. Stock Advisor launched in February of 2002. A version powered by a hydrogen fuel cell will follow in 2023. Done Deal: VectoIQ's Merger With Nikola Motor Has Closed, 5 High-Growth Small Company Stocks I Bought in May. John Rosevear is the senior auto specialist for Fool.com. If the battery technology pans out, it should give Nikola a significant competitive advantage over leading rivals (yes, including Tesla). Nikola, founded in 2014 by its current CEO, Trevor Milton, has developed a series of Class 8 (tractor-trailer) electric heavy trucks that have attracted considerable interest from fleet operators and investors. Nikola's battery-electric semi will go into production next year. Find the latest VectoIQ Acquisition Corp. (VTIQ) stock quote, history, news and other vital information to help you with your stock trading and investing. As part of the deal, the combined company will raise $525 million in a private placement at $10 per share. John Rosevear is the senior auto specialist for Fool.com. One reason for the heavy interest: Nikola's trucks can be powered by either batteries or hydrogen fuel cells. Shares of VectoIQ Acquisition (NASDAQ:VTIQ) were up on Tuesday, as the stock continued to gain momentum ahead of an expected merger with electric-semi maker Nikola Motor next month. Fuel cells are expensive to make and probably won't be practical for regular passenger cars any time soon, but at least in theory, they have two big advantages in heavy trucks: A fuel cell and hydrogen tank weigh a lot less than a battery pack that could provide comparable range, meaning more cargo can be carried, and fuel cells can be "recharged" in a matter of minutes by refilling the hydrogen tank. John Rosevear (TMFMarlowe) May 8, 2020 at 1:54PM Author Bio. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Another special-purpose acquisition company is seeing its stock soar, but a happy ending is far from assured. Nikola's batteries aren't off-the-shelf units. The combined company will change its name to Nikola Corporation, and its stock will trade on the Nasdaq Capital Market under a new ticker symbol, "NKLA.". Shareholders are set to vote on a crucial merger next week. Let's conquer your financial goals together...faster. Girsky formed VectoIQ with the intent to become "a business partner to start-ups" in the mobility space. Assuming they approve it (which seems very likely), the deal will close as soon as possible after that date, likely by mid-June. Market data powered by FactSet and Web Financial Group. Industry, sector and description for VectoIQ Acquisition Corp.. Existing Nikola shareholders will receive 1,901 shares of VectoIQ stock for each of their Nikola shares. John Rosevear (TMFMarlowe) May 26, 2020 at 1:05PM Author Bio. Nikola has over 14,000 preorders for its all-electric tractor-trailer trucks, which it plans to begin producing next year. Returns as of 10/20/2020. Let's conquer your financial goals together...faster. See you at the top! Its merger with Nikola Motor is on track for next month. Stock Market Wrap-Up: Will VectoIQ Boom Like DraftKings or Sink Like Virgin Galactic? Cumulative Growth of a $10,000 Investment in Stock Advisor, Why VectoIQ Stock Is Rising Today @themotleyfool #stocks $VTIQ $TSLA, Done Deal: VectoIQ's Merger With Nikola Motor Has Closed. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Has VectoIQ Acquisition Stock Jumped 130% Since May 1? Nikola plans to use the funds raised as part of this transaction to begin construction of a factory in Arizona. Its deal to merge with electric-truck maker Nikola is on track. That's not exactly market-moving stuff, but this company's shares don't seem to need much to get rolling. It sounds a bit speculative, but the technology is good enough to have attracted a $250 million investment from CNH Industrial's (NYSE:CNHI) big-rig subsidiary IVESCO last year. Why VectoIQ Stock Surged Over 15% on Tuesday, Copyright, Trademark and Patent Information. VectoIQ is holding a special meeting of shareholders to vote on the deal on June 2. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Today, VectoIQ will finally fulfill its purpose, as it announces the acquisition of privately held, Utah-based Nikola Corporation -- and sees its stock … John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Nikola's all-electric heavy trucks are attracting enormous interest from investors. As some auto investors see it, this is a chance to get in early on a stock that might become the next Tesla (NASDAQ:TSLA). Why Has VectoIQ Acquisition Stock Jumped 130% Since May 1? Stock Advisor launched in February of 2002. Its merger with Nikola Motors is close to completion, and investors are getting excited. These up-and-coming businesses are far from perfect but have enough potential to lure me in. Market data powered by FactSet and Web Financial Group. Why VectoIQ Stock Surged Over 15% on Tuesday, Copyright, Trademark and Patent Information. Meanwhile, Nikola is racking up preorders for a battery-powered truck with good specifications that really will ship in 2021 -- and a hydrogen fuel-cell version that will follow in 2023. All eyes will be on VectoIQ at 11 a.m. EDT on June 2, when the company holds the special meeting of shareholders to vote on the proposed merger.
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