Why Spring Valley Acquistion Stock Jumped Today

·2 min read
Why Spring Valley Acquistion Stock Jumped Today

Shares of Spring Valley Acquisition (NASDAQ: SV) were climbing today after the special purpose acquisition company (SPAC) announced that its merger with vertical farming company AeroFarms was being terminated. The news came after the initial merger was announced seven months ago, and Spring Valley is now free to pursue another privately held company. As of 2:07 p.m. EDT, the stock was up 10.5% to $9.93, trading near the $10 mark, which is the nominal price of most SPACs.

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