Virtuoso Acquisition (VOSO) Stock: Why The Price Surged Today

By Amit Chowdhry ● Nov 18, 2021
  • The stock price of Virtuoso Acquisition Corp (NASDAQ: VOSO) increased by over 82% during intraday trading today. This is why it happened.

The stock price of Virtuoso Acquisition Corp (NASDAQ: VOSO) – a publicly traded special purpose acquisition company (SPAC) – increased by over 82% during intraday trading today. Investors are responding positively to Virtuoso Acquisition announcing that Virtuoso stockholders voted to approve its proposed merger with Wejo Group Limited, a global leader in connected vehicle data, at a Special Meeting of Shareholders held on November 16, 2021.

The merger is expected to close on November 18, 2021 and the common stock and warrants of the combined company – which will be called Wejo – are expected to commence trading on the Nasdaq Stock Market on November 19, 2021 under the new ticker symbols, “WEJO” and “WEJOW,” respectively.

KEY QUOTE:

“We are very pleased to achieve this important milestone in the merger process and thank our stockholders for their support. Wejo has built significant momentum in its business and is demonstrating the huge potential of connected vehicle data through the continued development of its technology platform, as well as its important collaborations with many market-leading companies and OEMs. We are excited to support Wejo as a public company and further establish it as the global leader in connected vehicle data.”

— Jeffrey D. Warshaw, Chairman and CEO of Virtuoso

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.