Here's Why This Chamath Palihapitiya-Led SPAC Is Skyrocketing on Friday

There are a few potential reasons investors are interested in this particular SPAC, but the most likely explanation for today's lift is that fintech start-up Social Finance (SoFi), which the SPAC has agreed to take public, offers a trading app that is a direct competitor to Robinhood. With Robinhood recently halting trading on high-momentum stocks like GameStop and AMC Entertainment Holdings, there has been a major outcry from politicians, market commentators, and most importantly, Robinhood traders.