Why is Altu stock down 31 percent?
After closing at an all-time high of $14.54 last month, ALTU stock has fallen nearly 31.4 percent. The stock is falling due to broader market sell-off as investors rebalance their portfolios because of changing macroeconomic factors like interest rates. Blank-check companies' stock prices are correcting after their speculative run.
Is Altu SPAC stock a good buy?
Aerion manufactures supersonic planes. In 2023, the company expects to manufacture its supersonic jet, the AS2, with plans to bring it to market in 2027. ALTU SPAC stock looks like a good buy.
Should you buy Altu stock if it merges with Boeing?
If the merger discussions are successful, ALTU shareholders could own a piece of Aerion, which is part of a lucrative market. The business jets market is expected to reach $38 billion by 2030 compared to $18.8 billion in 2020. Also, Boeing's support for Aerion shows that it has a strong product.
What happened to Altu SPAC?
The ALTU SPAC was formed to merge with private travel-related companies. On March 23, ALTU stock fell 3 percent and closed at $9.98, which represents a 0.2 percent discount to its IPO price.
Are investors shorting Altitude Acquisition?
Who are some of Altitude Acquisition's key competitors?
Altitude Acquisition saw a increase in short interest in January. As of January 31st, there was short interest totaling 524,400 shares, an increase of 266.5% from the January 15th total of 143,100 shares. Based on an average daily trading volume, of 102,200 shares, the days-to-cover ratio is currently 5.1 days.
What is Altitude Acquisition's stock symbol?
Some companies that are related to Altitude Acquisition include Social Capital Hedosophia Holdings Corp.
Who are Altitude Acquisition's major shareholders?
Altitude Acquisition trades on the NASDAQ under the ticker symbol "ALTU."
Which institutional investors are selling Altitude Acquisition stock?
Altitude Acquisition's stock is owned by many different retail and institutional investors. Top institutional investors include D. E. Shaw & Co. Inc. (6.35%), Glazer Capital LLC (1.69%), Athanor Capital LP (1.64%), LMR Partners LLP (1.59%), Kohlberg Kravis Roberts & Co. L.P. (1.45%) and Arena Investors LP (1.33%).
Which institutional investors are buying Altitude Acquisition stock?
ALTU stock was sold by a variety of institutional investors in the last quarter, including Glazer Capital LLC, LMR Partners LLP, Citadel Advisors LLC, Susquehanna International Group LLP, Wolverine Trading LLC, Cutler Group LP, Athanor Capital LP, and Penserra Capital Management LLC.
How do I buy shares of Altitude Acquisition?
ALTU stock was purchased by a variety of institutional investors in the last quarter, including D. E. Shaw & Co. Inc., Arena Investors LP, Context Capital Management LLC, Millennium Management LLC, Kohlberg Kravis Roberts & Co. L.P., Qube Research & Technologies Ltd, Qube Research & Technologies Ltd, and Cantor Fitzgerald Investment Adviser L.P..
Signals & Forecast
Shares of ALTU can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here.
Support, Risk & Stop-loss
The Altitude Acquisition Corp. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.
Is Altitude Acquisition Corp. stock A Buy?
Altitude Acquisition Corp. finds support from accumulated volume at $9.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
Golden Star Signal
Altitude Acquisition Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
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Who's the sponsor of ALTU SPAC?
Gainers Greenland Technologies Holding Corp (NASDAQ: GTEC) shares jumped 134% to $17.66 following news of a deal with South China Heavy Machinery Manufacture Co. for US production of electric industrial vehicles.
Merger rumors are the likely reason why Altitude ALTU SPAC stock is up
Altitude is led by chairman Gavin Isaacs and chief executive Gary Teplis. Isaacs sits on the board at DraftKings and was previously the CEO of Scientific Games. Meanwhile, Teplis serves as CEO of Teplis Travel, a corporate travel agency.
Which company will Altitude SPAC merge with?
As of 6:30 a.m. ET on Feb. 18, ALTU stock had risen more than 18 percent to $12.70 in premarket trading. The stock seemed to have been boosted by merger rumors.
Should you buy ALTU stock before the merger with Aerion?
There are rumors that Altitude SPAC is in talks to merge with Aerion, a Nevada-based aviation startup. Aerion is building a supersonic jet, the AS2, that it aims to start producing in 2023 and bring to market in 2027. The AS2 will be able to fly at speeds of up to 1,000 miles per hour, which is about 70 percent faster than current business jets.
Altitude Acquisition Company Questions & Answers
Compared with other pre-deal SPAC stocks such as Churchill Capital Corp IV (CCIV) and Chamath Palihapitiya’s IPOF, ALTU stock is still cheap and may appeal to investors seeking bargain SPAC opportunities. If the merger talks result in a deal, ALTU stock investors will own a piece of Aerion, which is part of a lucrative market.
How do I buy Altitude Acquisition (ALTU) stock?
You can purchase shares of Altitude Acquisition ( NASDAQ: ALTU) through any online brokerage.
