Why Shares of Collier Creek Holdings Blasted 17% Higher on Friday

Collier Creek Holdings (NYSE: CCH) was an exceptional stock on Friday, advancing by nearly 17% on the news that it has essentially transformed into a vehicle to take a well-known snack-food company public. Collier Creek is a special purpose acquisition company (SPAC), founded with the aim of making an acquisition or otherwise combining with an existing business. On Friday, Collier Creek announced that it's merging with Utz Quality Foods.