Clover Health Investments (CLOV) Stock Reaches $10: A Good Breakout?

In recent months, investors have become increasingly interested in SPACs (special purpose acquisition companies). The craze around SPAC stocks has been quite significant in these times and one such stock that could be looked into is that of Clover Health Investments Corp (NASDAQ: CLOV).

The company went public through a merger with Chamath Palihapitiya-backed blank check company Social Capital Hedosophia. The Clover Stocks has had a pretty volatile ride for much of the year.

After having bottomed out last month, the stock eventually clocked gains of 90% to hit a fresh high on Friday. Experts believe that the company has a business that could eventually go on to unlock considerable value for investors.

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However, at the same time, it is also necessary to recognize that the volatility in the Clover Health stock might be a bit of a problem for many other investors. At this point, it might be a good idea for investors to add the Clover Health stock to the watch list and keep an eye on the news.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.