Investment experts often talk about looking into stocks that are gaining momentum and one of the stocks to have gained momentum in recent days is that of the black cheque company Tortoise Acquisition II Corp (NYSE: SNPR).
Last Monday, the stock soared significantly after it emerged that it was on the verge of completing a SPAC (special purpose acquisition company) merger with VOLTA. The company itself is a SPAC and in recent times investors have expressed significant interest in stocks of such companies.
The SPAC merger with VOLTA is going to see Tortoise helping the former in going public and that has caused the stock to gather strong momentum. The company is going to complete a reverse merger in order to take VOLTA public. However, it is more interesting to note that VOLTA is one of the biggest operators in the electric vehicle charging industry and that space is only expected to grow in the coming years. It might be a good idea for investors to keep an eye on the stock over the coming days.