There's no big news to report, aside from the news that everyone watching this stock probably knows: The company's proposed merger with Nikola appears to be on track for approval at the special meeting of shareholders set for June 2. Why Has VectoIQ Acquisition Stock Jumped 130% Since May 1? Nikola raised over $700 million in new cash. 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. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Returns as of 10/20/2020. Market data powered by FactSet and Web Financial Group. Why VectoIQ Stock Surged Over 15% on Tuesday, Copyright, Trademark and Patent Information. John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. See you at the top! Stock Advisor launched in February of 2002. One reason for the heavy interest: Nikola's trucks can be powered by either batteries or hydrogen fuel cells. Let's conquer your financial goals together...faster. 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). 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. See you at the top! Its merger with Nikola Motor is on track for next month. 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. As of 12:45 p.m. EDT, VectoIQ's shares were up about 11.2% from Friday's closing price. Nikola's battery-electric semi will go into production next year. 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 … Stock Advisor launched in February of 2002. Its merger with Nikola Motors is close to completion, and investors are getting excited. VectoIQ spent about two years looking for a later-stage company to acquire, settling on Nikola earlier this year. Why VectoIQ Stock Is Rising Today Shareholders are set to vote on a crucial merger next week. 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. Nikola has over 14,000 preorders for its all-electric tractor-trailer trucks, which it plans to begin producing next year.

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