ACTC Voting On Proterra Merger June 11
ArcLight Clean Transition Corp. - AACTC
20c 6/18 ($75,9% till breakeven) or 12.5c 10/19 ($640,-0.5% till breakeven)
Current Price $18.96 Price Target $ 23.50
With the purchase of Proterra being voted on June 11th I expect ACTC to move higher as ACTC confirms a breakout into a new trading range. Given ACTC is a decently shorted stock (18% of float, 4.8 days to cover), we could see some type of squeeze upon approval of the purchase of Proterra. After delivering Proterra’s first electric transit bus a decade ago, Proterra has transformed into a diversified provider of electric vehicle technology solutions to help commercial vehicle manufacturers electrify their fleets. They currently have $750 million in current orders/ backlog. Upon completion of the transaction with ACTC, Proterra expects to have up to $825 million in cash to fund growth initiatives.
20c 6/18 ($75,9% till breakeven) or 12.5c 10/19 ($640,-0.5% till breakeven)
Current Price $18.96 Price Target $ 23.50
With the purchase of Proterra being voted on June 11th I expect ACTC to move higher as ACTC confirms a breakout into a new trading range. Given ACTC is a decently shorted stock (18% of float, 4.8 days to cover), we could see some type of squeeze upon approval of the purchase of Proterra. After delivering Proterra’s first electric transit bus a decade ago, Proterra has transformed into a diversified provider of electric vehicle technology solutions to help commercial vehicle manufacturers electrify their fleets. They currently have $750 million in current orders/ backlog. Upon completion of the transaction with ACTC, Proterra expects to have up to $825 million in cash to fund growth initiatives.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.