Last week there was a news that no one seemed to noticed until today. On June 5 Gordon Pointe Acquisition Corp. (NASDAQ: GPAQ, GPAQU, GPAQW), together with HOF Village, LLC announced that it has set a date for the Special Meeting of its stockholders . The only topic is going to be a GPAQ merger with HOF Village. It is expected that on June 26th the meeting will take place.
After the merger GPAQ will be renamed to Hall of Fame Resort & Entertainment Company and it will be a Nasdaq listed company. Also on the day of the merger stock ticker will switch from GPAQ to something else , probably HOFV.
And today, June 10 we finally see some movement with GPAQ stock. The price went almost 10% up and closed the Wednesday at $12.00.
After hours brought more gains to GPAQ shareholders and the stock is expected to go up on Thursday. But this is still a slow and insignificant movement so far and once the merger is announced there might be a surge and higher ROI. Then, it will probably be too late to enter the stock for some significant profits.
The only problem I see right now is the fact that the economy is going to need a couple of years to recover fully.
Of course do your DD before investing into new companies.