Hello fellow ODT Traders - This may be rare and problematic, so don't take this as a stock tip.
I got involved in a bizarre instance Friday concerning Aurora technology acquisition company. Ticker ATAK
There were press releases that the shares had increased 40% in premarket trading. It went from ~$11.00 per share to $14.00
By time normal trading opened, the price had dropped to $13.08. Trading volume for the day was insane, with over 2 Million share vs average of 16 K shares.
At closing, it had dropped to $7.00 per share. It dropped again on Monday to as low as $6.00
The two years to secure a company was due December 6th, but they have been extended to January 9th.
If anyone knows anything about SPAC's I would like to ask some questions.
I have learned that if SPAC's do not form an acquisition, "Share holders get their $10.00 back".
Any ideas if there are any assurance this will rise back to $10 - 11.00 per share like before the blow up?
If not, does each share get dissolved and the share holder gets credited with $10.00 cash?
Any opinions if this is a 66% gain opportunity or a black hole?
Thanks, DMGun - David
I got involved in a bizarre instance Friday concerning Aurora technology acquisition company. Ticker ATAK
There were press releases that the shares had increased 40% in premarket trading. It went from ~$11.00 per share to $14.00
By time normal trading opened, the price had dropped to $13.08. Trading volume for the day was insane, with over 2 Million share vs average of 16 K shares.
At closing, it had dropped to $7.00 per share. It dropped again on Monday to as low as $6.00
The two years to secure a company was due December 6th, but they have been extended to January 9th.
If anyone knows anything about SPAC's I would like to ask some questions.
I have learned that if SPAC's do not form an acquisition, "Share holders get their $10.00 back".
Any ideas if there are any assurance this will rise back to $10 - 11.00 per share like before the blow up?
If not, does each share get dissolved and the share holder gets credited with $10.00 cash?
Any opinions if this is a 66% gain opportunity or a black hole?
Thanks, DMGun - David