Why Tortoise Acquisition Stock Was Higher Today
Shares of special purpose acquisition company Tortoise Acquisition (NYSE: SHLL) were trading higher on Wednesday as intense investor interest in the company's pending deal to merge with electric heavy-truck start-up Hyliion continued to drive gains. As of 2:45 p.m. EDT, Tortoise's shares were up about 8.7% from Tuesday's closing price. Tortoise is a special purpose acquisition company (SPAC), meaning a company that has no business plans of its own but that seeks to acquire other businesses.
