Stock Alert: Social Capital Hedosophia Down 6%

By RTTNews Staff Writer ✉ | Published: 10/26/2020 10:17 AM ET

Shares of Social Capital Hedosophia Holdings Corp. II (IPOB), a publicly traded special purpose acquisition company, are losing more than 6 percent or $1.23 in Monday's morning trade at $18.21, despite no company-centric news.

U.S. stocks opened lower on Monday amid concerns about a surge in new coronavirus cases and continued uncertainty about lawmakers' ability to reach an agreement on a new stimulus bill.

In mid-September, Opendoor Labs Inc., a San Francisco-based digital platform for residential real estate, said it entered into a definitive business combination agreement with Social Capital Hedosophia to become publicly traded. The business combination values Opendoor at an enterprise value of $4.8 billion.

Social Capital Hedosophia has traded in a range of $10.55 to $27.00 in the past 52 weeks.

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