Will SoFi Stock Rise After the IPOE Merger Date?

Clover Health, a health insurance company, is one of the fastest-growing Medicare Advantage companies. In Jan. 2021, Palihapitiya’s third SPAC, Social Capital Hedosophia III (IPOC), merged with Clover. The stock trades on the Nasdaq under the ticker symbol “CLOV” and has a market capitalization of $3.0 billion. CLOV stock rose on the listing day but has been fallen since then—it’s down 56 percent year-to-date. Much of the decline can be attributed to Hindenburg Research accusing Clover of misleading investors by not revealing U.S. DOJ inquiries.

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