One of the hottest developments on Wall Street right now is the special purpose acquisition firms. And nobody is hotter than the so-called SPAC king, Chamath Palihapitiya. Hedosopia IV Social Capital (NYSE:IPOD) is a suite of six separate SPACs from Palihapitiya. And the inventory of IPOD is now well underway. It leapt to almost $15 now from its original $10 bid.
This is actually a storey that you’ve read before. A Special Purpose Investment Corporation (SPAC) declares an energy company merger and the share price is boosting. In reality, ArcLight Clean Transformation (NASDAQ:ACTC at https://www.webull.com/quote/nasdaq-actc) showed its intention to fuse with Proterra, the electric bus manufacturer, and ACTC’s inventory rapidly doubled.
Proterra is an organisation that is exceptional. It may be argued that Tesla was close to many other electric car manufacturers (NASDAQ:TSLA). Proterra, by comparison, doesn’t even look like Tesla.
For those looking for a stock of SPAC electric vehicles that stands apart from the other, this is a positive news. Therefore, ACTC stock can still be placed on your portfolio even in its current price point, which has remained high after a recent pullback.
See the stock of ACTC
On 22 September 2020, the initial IPO public offering was revealed by ArcLight Clean Transition. On the next day, the shares were open to the public, with 25 million units sold for $10 apiece.
This is the average price beginning for a SPAC stock and for some time the NASDAQ: ACTC stock remained similar to $10. As we are aware, after ArcLight declared its Proter, the ACTC stock price jumped. The announcement date and the ACTC stock price was immediately pushed to $25 on that day. Any improvement has since been made and, on January 19, ACTC shares hit a limit of $31.06 for 52 weeks.
However, the price could not be kept, as the ACTC stock then began to fizzle. The share price of the ACTC was $23.25 yesterday. However, it’s a little more than the price of the IPO.
There is also Proterra Energy that provides turn-key charging and energy storage systems from bottom up.Proterra is ready to catch a large portion of the demand for electric transit vehicles from all three companies.For the company’s owners, this could be an important plus. Proterra is a genuinely dynamic, three-pronged organisation.
In the light of the market, Jack Allen, CEO and President of Proterra, said: ‘Proterra has grown into a diverse supplier of electric vehicle technology solutions to help commercial vehicle manufacturers electrify their fleets since introducing our first electric transit bus a decade ago. If you want to invest in stocks, you can also check nasdaq kopn at https://www.webull.com/quote/nasdaq-kopn.