What happened Shares of CIIG Merger (NASDAQ: CIIC) jumped more than 13% this morning before settling at 9% higher as of 11:30 a.m. EST. CIIG Merger is a special-purpose acquisition company (SPAC) that is combining with electric van and bus start-up Arrival to form a public company valued at $5.4 billion. So what After shares in CIIG more than doubled in November, a general reversal in electric-vehicle (EV) names moved the stock down more than 20% in the last week. Today, some investors are taking advantage of that to get in before the company's merger is completed in early 2021. Arrival bus scheduled to be produced starting in Q4 2021. Image source: Arrival. U.K.-based Arrival is seeking to fill an EV niche supplying urban and delivery transportation needs. Now what Arrival says it already has $1.2 billion in orders, mainly for delivery vehicles for United Parcel Service (NYSE: UPS). UPS, investment firm Blackrock (NYSE: BLK), Kia Motors, and Hyundai Motor have collectively invested $300 million in the company. The company touts its "microfactories," which it says give it more flexibility and require less invested capital than traditional manufacturing facilities. It says it can have these facilities operational within six months and can use existing commercial spaces and warehouses to bring production close to individual cities and customers. Investors may be excited about its prospects, but there will be plenty of competition in this area. Today some investors are using the recent dip in price to add CIIG to the speculative portion of their portfolios. 10 stocks we like better than CIIG Merger Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and CIIG Merger Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source