2020 was the year of the SPAC, but 2021 is shaping up to be just as strong in the world of so-called blank check companies. One particular standout today is VG Acquisition Corporation (NYSE: VGAC.U) , which is sponsored by Richard Branson's Virgin Group. As of 11:45 a.m. EST, VG Acquisition was higher by more than 10% for the day.
The reason for today's move is that we learned what company VG Acquisition is planning to take public, and it is DNA-testing company 23andMe.
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For further details see:
Richard Branson's SPAC Is Soaring on Thursday -- Here's Why