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Lordstown Motors just became one of the best electric vehicle stocks to buy.
And it all has to do with a little thing called a special purpose acquisition companies (SPAC).
Special purpose acquisition companies (SPACs) have become popular this year.
Otherwise known as "blank check" companies, they are formed solely for the purpose of buying an existing company using funds from an IPO.
Market uncertainty during COVID has resulted in a weak year for IPOs.
So these companies have been seen as a profitable alternative.
Today, we're going to discuss what may or may not be one of the most interesting SPACs to come out of it.