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Stock Alert: VectoIQ Acquisition Up 5% As Merger With Nikola To Conclude Soon

Shares of VectoIQ Acquisition Corp. (VTIQ) are currently gaining nearly 5% on Wednesday morning trade as the company nears to close its merger with electric truck maker Nikola Motor, which is expected in June.

VTIQ is currently trading at $26.34, up $1.16 or 4.61%, on the Nasdaq.

VectoIQ Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses.

The company is led by former General Motors (GM) vice chairman Steve Girsky. It is expected to complete a merger with privately held Nikola Motor in June.

Nikola Motor is a fuel cell electric truck maker. The company's stock also has quadrupled to about $12 billion based on the merger news.

Shares of VectoIQ have witnessed a sharp growth for the year-to-date period, asn increase of nearly 150%. The shares have trade between $10.30 and $35.38 in that period.

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