The sell-off might have been triggered because of the collapse of the SPACs led by Chamath Palihapitiya and Churchill Capital IV ( CCIV ). Also, rising bond yields are hurting stock prices. The ACIC and Archer merger is expected to close in the second quarter of 2021.
Full Answer
What happens to ACIC stock when the merger closes?
Once the merger closes, ACIC stock will take on a new ticker symbol, “ACHR,” but will maintain its listing on the NYSE. The combined company will operate under the Archer name.
Should you buy ACIC stock before the Archer&Co deal closes?
By the time the transaction closes, ACIC stock could be trading higher. Therefore, investors happy with the deal may be better off getting in now. ACIC stock is still cheap, at just $3 above its IPO price. Investors also shouldn’t forget how Archer’s business aligns well with global trends.
Is acacic stock still cheap at $3?
ACIC stock is still cheap, at just $3 above its IPO price. Investors also shouldn’t forget how Archer’s business aligns well with global trends. Governments and businesses around the world want to reduce carbon emissions to protect the environment.
Is Atlas (ACIC) stock undervalued?
Atlas stock has traded in the range of $9.73–$18.60 since its debut. The stock is undervalued now compared to what investors were shelling out for the stock just a few months ago. ACIC stock looks undervalued on price-to-book value multiple.
Is ACIC a good buy?
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Is Archer aviation stock a buy?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Archer Aviation in the last year. There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Archer Aviation stock.
What does Atlas Crest Investment Corp do?
Atlas Crest Investment Corp. II (NYSE: ACII) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses.
When did ACIC go public?
U, the "Company") announced today that it priced its initial public offering of 50,000,000 units at a price to the public of $10.00 per unit. The units are expected to commence trading on October 28, 2020 on The New York Stock Exchange (the “NYSE”) under the ticker symbol "ACIC.
Is Archer Daniels Midland a good investment?
Currently, Archer-Daniels-Midland Co's price-earnings ratio is 14.3. Archer-Daniels-Midland Co's trailing 12-month revenue is $90.0 billion with a 3.4% profit margin. Year-over-year quarterly sales growth most recently was 25.2%. Analysts expect adjusted earnings to reach $6.186 per share for the current fiscal year.
Should I buy ACHR stock?
The financial health and growth prospects of ACHR, demonstrate its potential to underperform the market. It currently has a Growth Score of C. Recent price changes and earnings estimate revisions indicate this would not be a good stock for momentum investors with a Momentum Score of D.
Will ACIC turn into ACHR?
Shareholders of Atlas Crest Investment Corp. (NYSE:ACIC) on Tuesday approved its merger with the Palo Alto air taxi developer, the companies said Tuesday. Their approval sets up the combined company to have its stock begin trading Friday on the New York Stock Exchange under the symbol ACHR.
Who is Atlas Crest Investment merging with?
ArcherArcher was the first eVTOL developer to join the SPAC craze, announcing its plans to combine with Atlas Crest in early February this year. But the company has been saddled with an ongoing lawsuit brought by Wisk, which has accused Archer of stealing the design for its Maker eVTOL and other valuable trade secrets.
What did ACIC become?
Archer Aviation Inc Closes Merger With Atlas Crest (ACIC) to Become Publicly Traded Under Ticker "ACHR" Archer Aviation Inc. announced today that it has closed its business combination with Atlas Crest Investment Corp. (NYSE: ACIC) (“Atlas Crest”), a special purpose acquisition company.
What company is merging with Archer?
Atlas Crest Investment Corp.Shareholders of Atlas Crest Investment Corp., a special purpose acquisition company (SPAC), voted to merge with Archer, which beginning Friday will be traded on the New York Stock Exchange under the ticker symbol ACHR.
Who owns Archer aviation?
Archer Aviation is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is the CEO Brett Adcock with 16% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 16% and 11%, of the shares outstanding, respectively.
Is Archer aviation a SPAC?
Archer Aviation is now the third air taxi developer to start public trading since August—the second just this week—after it successfully completed a merger with a special purpose acquisition company, also known as a SPAC.
Is ACIC stock a buy right now?
1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Atlas Crest Investment in the last twelve months. There are currently 1 bu...
Will Atlas Crest Investment's stock price go up in 2022?
1 brokerages have issued 12-month target prices for Atlas Crest Investment's stock. Their forecasts range from $15.00 to $15.00. On average, they a...
Who are Atlas Crest Investment's key executives?
Atlas Crest Investment's management team includes the following people: Mr. Michael Spellacy , CEO & Director (Age 49) Mr. Christopher Callesano...
Who are some of Atlas Crest Investment's key competitors?
Some companies that are related to Atlas Crest Investment include FTAC Hera Acquisition (HERA) , Compute Health Acquisition (CPUH) , Cohn Robbin...
What is Atlas Crest Investment's stock symbol?
Atlas Crest Investment trades on the New York Stock Exchange (NYSE) under the ticker symbol "ACIC."
What is Atlas Crest Investment's stock price today?
One share of ACIC stock can currently be purchased for approximately $4.63.
How much money does Atlas Crest Investment make?
Atlas Crest Investment (NYSE:ACIC) has a market capitalization of $289.38 million.
How many employees does Atlas Crest Investment have?
Atlas Crest Investment employs 3 workers across the globe.
What is Atlas Crest Investment's official website?
The official website for Atlas Crest Investment is www.atlascrestcorp.com .
Why ACIC stock is dropping
Atlas SPAC stock closed at $10 on April 7. The stock has dropped 45 percent from its peak. The decline looks to be a result of several factors. First, the latest pullback might be linked to Wisk Aero’s patent infringement and trade secret theft lawsuit.
Will ACIC stock recover?
After the 1.6 percent decline in the regular session on April 7, ACIC stock regained some ground after hours. The stock rose 1.9 percent to $10.25. The after-hours gains came after Cathie Wood’s space-focused fund revealed that it bought more than 141,000 shares of Atlas SPAC stock.
ACIC stock's valuation
Atlas stock has traded in the range of $9.73–$18.60 since its debut. The stock is undervalued now compared to what investors were shelling out for the stock just a few months ago. ACIC stock looks undervalued on price-to-book value multiple. It trades at a price-to-book value multiple of 1.25x compared to the benchmark S&P 500’s 4.4x.
Buy ACIC stock before the Archer merger date
There are several reasons you might want to buy Atlas SPAC stock now. First, the sharp retreat from the peak has opened a window for bargain investors to enter at a discount just as the Archer merger nears closing.
When will ACIC and Archer merge?
The ACIC and Archer merger is expected in the second quarter of 2021. Source: istock. Article continues below advertisement.
Is ACIC SPAC a good buy?
ACIC SPAC stock looks like a good buy based on Archer’s strong growth outlook and valuations . Archer is also expected to benefit from the surge in demand for urban air mobility after it’s operational. The company thinks that urban air mobility is a $1.5 trillion market. However, the stock is a speculative play until the ACIC and Archer transaction closes.
How much is Atlas Crest ACIC?
The Atlas Crest ACIC–Archer deal values the combined company at $3.8 billion. Archer is set to join Hyundai Motors and Airbus on the list of publicly traded companies working on air taxis. Hyundai's valuation is $54 billion, while Airbus's is more than $70 billion.
Is ACIC stock cheap?
ACIC stock is still cheap, at just $3 above its IPO price. Investors also shouldn’t forget how Archer’s business aligns well with global trends. Governments and businesses around the world want to reduce carbon emissions to protect the environment.
How much did AMC stock drop on June 3?
On June 3, as of 10:30 a.m. ET, AMC stock had dropped by more than 18 percent. This followed a 95 percent rise on June 2. The trading in AMC stock was halted several times on June 2. At one point, the stock went up by more than 100 percent intraday. This rally, like the one in January, is being led by retail investors, many of who are active on Reddit’s subgroup WallStreetBets. Retail investors on the forum decided to buy the stock in unison. The stock soared and its high short interest multiplied these gains.
How many shares did AMC sell on June 3?
However, to benefit from the stock's surge, the company announced that it will sell 11 million shares on June 3. This made the stock tank immediately. On June 1, AMC raised $230.5 million in an equity offering. It sold 8.5 million shares to Mudrick Capital to raise the money.
Is the short squeeze on AMC stock exaggerating?
The short squeeze has been exaggerating the gains in AMC stock. This squeeze could continue to fan AMC stock for some time since the short interest in the stock is still high. According to the recent data from Ortex, the short bets against the stock still account for 18 percent of the shares outstanding.
Is AMC stock overvalued?
AMC stock is overvalued by any measure. A more than 2,800 percent YTD rally can't be justified by the company’s fundamentals or its outlook. Its first-quarter results weren't impressive. It posted a worse-than-expected loss of $1.42 per share. Interestingly, Mudrick Capital, to whom AMC sold 8.5 million shares on June 1 (this sale was also one of the catalysts for the stock’s recent rally), sold its entire stake the same day, and said that the stock is overvalued.