Low-float SPAC Aurora Technology Acquisition rallies over 100%

Multisensor AI Holdings

15/12/2023 12:41

** Shares of blank-check company Aurora Technology
Acquisition Corp  ATAK.O  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  SMAP.O 
and Brilliant Acquisition  BRLI.O  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;))