ACTC Will Be Trading as PTRA On TUEACTC Current Price 19.01 Price Target $24
Ticker change to come Tuesday from merger with Proterra New ticker will be PTRA. The ticker change should help bring some attention and hopefully volume to this stock.Still love the EV sector as a great long term hold. All EV stocks could rally off of lawmakers in the US coming to an agreement on an infrastructure deal. I think next week we see a bump up due to some increased volume and in the long term ACTC should continue to win more government contracts for EV public transport as they are already the leader in EV public transport. Unlike lots of EV companies Proterra has vehicles on the road and more in manufacturing to meet to immense need of EV public transport. Governments will be the first to make real monetary commitments to EVs, not businesses or consumers!
ACTC
ACTC Voting On Proterra Merger June 11ArcLight Clean Transition Corp. - $ACTC
$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.
ACTC Voting On Proterra Acquisition This Week ACTC Current Price $18.15 Price Target $23.50
I'm waiting for ACTC to confirm breakout by printing another 4 hour candle above the $18 resistance line. If that happens next week that will set up ACTC for a huge week as the vote for the SPAC to buy Proterra Is this week. Once the purchase is confirmed I expect ACTC to run. Love when the technicians line up with fundamentals
ACTC : COIL / POSITION TRADEArcLight (ACTC) is bringing Proterra to market at a reasonable valuation.
Proterra is a best in class commercial electric vehicle company with a solid offering, organization, and plan making it much more than an EV bus company.
Since its founding in 2004 and first bus delivery in 2009 Proterra has sold more than 1,000 EV buses in North America, the largest in region, and has a 50% market share.
The company has installed over 450 charge points. The plan is to be able to deliver peak power to handle hundreds of vehicles with fleet chargers some of which are capable of charging 40 buses at a time. The company is focused on building out fleet depots, en-route top up locations, and warehouse charging locations using existing infrastructure where possible.
Unlike many of their EV peers the price to sales ratio on any near term year is still fairly inexpensive at 13.8x compared to a lot higher levels from SPAC EVs of late.
Gross margins are expected to plateau around 25% which is likely to be more than attainable in our experience. They have a roadmap plotted to achieve this via scale and component improves by 2025 from current levels of 4%.
SOURCE : Steve Zachritz, Jan. 13, 2021, Seeking Alpha
seekingalpha.com
ArcLight Clean Transition Corp 🧙ArcLight Clean Transition Corp is a blank check company.
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Updated TA for $ACTCProterra is a force to be reckoned with, as the Biden administration recently came out with a statement regarding the necessity of transforming traditional ICE buses with new, fully electric fleets.
"Biden has proposed spending $20 Billion to electrify at least 20% of school buses and $25 Billion to electrify some transit vehicles as part of his $2.3 Trillion infrastructure and jobs plan. He said Proterra "is getting us in the game".
Proterra currently owns 50% market share of the electric bus conversion niche in North America. They will obviously be recipients of this pool of electric money from the Biden administration, as they are one of the few American companies doing this very process at scale.
Biden virtually visited the main Proterra plant on the 20th of April and plans to visit in person soon.
Update on $ACTC, I Remain EXTRA BullishI've corrected my last idea ( ) on the formation of the Bullish pennant and the date of my PT.
MACD and RSI on the 3-month are still looking very tasty. As I described in my last $ACTC post, Proterra has a strong presence in the EV space- owning 50% of the North American market share within EV bus sales.
Short interest has also DOUBLED in a two-week timeframe. nasdaqtrader.com
This is a 10yr+ hold for me. Crazy how little conversation is going around about this hidden gem!
ACTC Primed to break out to the upsideThis SPAC invests in Proterra, an electric bus manufacturer where the ex-Tesla Battery Engineering Manager is now the Chief Technology Officer of Proterra.
>60% forecast CAGR (compound annual growth rate).
Did I say Electric and Batteries??!!! Beautiful stock to own for the years to come.
Nice flattening out of the MACD
Coming to the pointy end of a wedge formation
Will have a nice strong breakout, hopefully to the upside. I'm long this stock.
Proterra Pennant Play! Another EV Company Gearing Up For A Move Proterra NASDAQ:ACTC designs and manufactures electric transit buses and electric charging systems. I am not going to do a big write-up on Proterra, this play for me would be a shorter term swing/breakout play. The company looks solid, their customer base is quite impressive and spans across North America. They are a very diverse company and have established a strong foothold in the heavy-duty electric transportation industry.
Chart: Beautiful pennant has developed over the past 31 days and looks to me like we could rally back to $30 if the market complies. I will be watching ACTC for volume. As can be seen from the chart once it was announced Proterra was going to be merging as ACIC we had a huge rally to $31 and then a cool off with a base forming at $24-$25 range. I will be looking to enter on breakout of the pennant with common stock and depending on the IV I may enter 2/19 $25 calls (currently $1.3/1.5).
If the pennant breaks down watch to see if ACTC finds support at $23 lvl where it has demonstrated a solid bottom already.
Clear Pennant Forming on $ACTCThis is one of my favorite plays currently.
$ACTC has been confirming price action precisely, with a pennant clearly forming and executing on the one-month perfectly.
RSI and MACD indicators are on the verge of reversing to the upside after consolidating for a month straight, another very bullish sign.
Proterra is a great investment long-term, for a variety of obvious reasons. They own about 50% market share for electric buses produced and sold within North America, giving them the biggest advantage with dire pushes for clean energy within the Biden administration.
This has the potential to be a 10x bagger long-term, given current projections and market conditions favoring EV's.
GLTA!
ACTC queued at 24.50We are queuing to buy the following
NIO 56.5
HUT 5
PLTR 26.472
IPOE 23
ACTC 24.50
CCIV 33
Queuing to sell the following
DB 10.49
SNDL 1.21
ABEO 2.66
APA 17
OSTK 95
RIOT 25.85
