|Bid||30.10 x 1000|
|Ask||30.40 x 1300|
|Day's range||29.37 - 31.97|
|52-week range||9.30 - 37.18|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Shares of CIIG Merger (NASDAQ: CIIC) jumped 31.8% in December, according to data provided by S&P Global Market Intelligence. The special-purpose acquisition company (SPAC) announced in November that it will merge with Arrival, a U.K.-based maker of electric buses and commercial vans. The story here is pretty simple: CIIG's stock did well in December thanks mostly to the intense investor interest in everything having to do with electric vehicles.
CIIG Merger Corp. (NASDAQ: CIIC) ("CIIG"), a US publicly-traded special purpose acquisition company, announced today that Arrival Group has filed with the U.S. Securities and Exchange Commission ("SEC") a registration statement on Form F-4 (the "Registration Statement"), which contains a preliminary proxy statement/prospectus, in connection with CIIG’s recently-announced proposed business combination with Arrival S.à r.l. ("Arrival"), the company creating electric vehicles ("EVs") with its game-changing technologies. The business combination is to be effected through a newly created holding company, Arrival Group, whereby CIIG and Arrival will become wholly-owned subsidiaries of Arrival Group. The combined company will add Peter Cuneo, CIIG’s Chairman and CEO, as Non-Executive Chairman to its post-closing Board of Directors. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about CIIG, Arrival, Arrival Group and the proposed business combination.
Today, shares of Kandi Technologies (NASDAQ: KNDI) continued to recover from a short-seller report last week, gaining 14%, before giving up most of those gains to remain up just 3% as of 11:45 a.m. EST. Fellow Chinese electric-vehicle (EV) maker Li Auto (NASDAQ: LI) was up 9% at the same time, having held its early gains. Chinese November sales results showed continued strong EV popularity, but a subsequent short-seller report put those sales from Kandi Technologies into question.