SPAC (special purpose acquisition company) mergers have been the flavor in the markets for quite some time now and have also attracted the interest of many investors. One of the SPACs to have come into focus among investors in recent times is Atlas Crest Investment (NYSE: ACIC).
The Atlas Crest stock has rallied strongly in 2021 so far and managed to record gains of as big as 60%. The rally in the stock could be related to the fact that it is on the verge of taking the company Archer public.
Archer is an electric aircraft company and going public is going to help it in fast-tracking its business. Atlas Crest had gone public back in October 2020 and at the time, it managed to raise as much as $500 million. In this regard, investors also need to note that according to Morgan Stanley the electric aircraft industry could be worth as huge as $2.4 trillion by 2040. Hence, the upside could be immense for the merged entity.