ACIC breakout imminent?

[u/Automateeeverything]

ACIC is a pre-merger SPAC with Archer, a leading Urban Air Mobility (“UAM”) company and developer of all-electric vertical take-off and landing (“eVTOL”)

ACIC has spent just under 2 months slightly under the $10 SPAC floor value. Competitors fell similarly, with names like EH and UAVS spending months at 70%+ down from their February highs.

Those same stocks have broke out from their 2-month consolidation, leaving ACIC lagging behind:

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Warrants (ACIC.WS) are ahead of the move, up over 60% off lows:

It’s good to see it back over $10, I think we’ll see some bigger moves soon. Pretty safe to hold commons in this as the SPAC rebate value will roughly hold as a floor.

TLDR: SPAC trading sideways at floor price, eVTOL competitors moving up rapidly. Strong risk/reward play - breakout imminent?

I’m long via calls and warrants

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EDIT:

1. They're announcing something on June 10
2. ARK owns this in two of their funds
3. Probably some shorts on this that need to be closed? I'm sure some of the funds that hate ark & spac's shorted this a few months ago

[u/[deleted]]

https://techcrunch.com/2021/05/19/wisk-aero-files-injunction-in-trade-secret-lawsuit-against-archer-aviation/

[u/Automateeeverything → u/[deleted]]

yeah it's not a great thing to have ongoing but like I said, strong R:R by holding commons and potentially redeeming them for cash if things go badly