Why Atlas Crest Investment Stock Gained 15.1% in February

Why Atlas Crest Investment Stock Gained 15.1% in February

Shares of Atlas Crest Investment (NYSE: ACIC) jumped 15.1% in February, according to data from S&P Global Market Intelligence. The special purpose acquisition company (SPAC) soared following an announcement that the business planned to merge with electric-plane company Archer. At the time of the merger announcement, Atlas stated that the adjusted equity value of the combined companies would be approximately $3.8 billion.