Why DiamondPeak Holdings Stock Just Dropped 10%
Shares of DiamondPeak Holdings (NASDAQ: DPHC), the special-purpose acquisition company (SPAC) that intends to take electric-vehicle (EV) maker Lordstown Motors public later this year, are in the dumps today, down 10% as 11:45 a.m. EDT. Responding to a viewer inquiry during his daily "Mad Money Lightning Round" on Monday, the CNBC commentator weighed in on DiamondPeak's prospects, warning, "This is an EV SPAC, now we saw what happened with some of the EV SPACs." Investors appear to be rattled by Cramer's negative assessment.
