Tiger Brokers

BUZZ-Low-float SPAC Aurora Technology Acquisition rallies over 100%

Reuters
Dec 15, 2023

** Shares of blank-check company Aurora Technology Acquisition Corp rally 128.4% premarket

** The highly volatile stock rose as much as over 1000% to $125 in early session before easing to $24.0

** ATAK had a market cap of $112.04 mln as of Thursday close, and of the nearly 10.7 million shares outstanding, only 5.11 million are traded on free-float basis, as per LSEG data

** Low free-float could make the stock vulnerable to outsized moves

** Other SPACs such as Sportsmap Tech Acquisition and Brilliant Acquisition up 37% and 47%, respectively, before the bell

** BRLI and SMAP trending as #6 and #14 tickers on Stocktwits, a website popular with amateur traders

(Reporting by Sruthi Shankar in Bengaluru)

((sruthi.shankar@thomsonreuters.com;))

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