Hyliion uses renewable natural gas instead of hydrogen to make electricity. Protected by copyright of the United States and international treaties. Click here to jump to comments…. There tends to be a lot of hype going into IPOs. By Mike Stenger, Associate Editor, Money Morning • September 29, 2020 Hyliion stock will begin trading on the New York Stock Exchange Friday, Oct. 2. DiamondPeak Holdings Corp. (NASDAQ: DPHC) has more than doubled since its IPO, from $10 to $26, a 160% pop. In this case, Tortoise was created by a team of veteran energy-industry executives and investors with the goal of finding and investing in one or more good businesses related to their shared area of interest, renewable natural gas. It's similar to the Nikola-VectoIQ deal in that it's a so-called "reverse merger": Tortoise will merge with Hyliion, the merged company will be named Hyliion, and the former Tortoise shares will trade under a new ticker, HYLN. Unlike battery-electric trucks, trucks with the Hypertruck powertrain can "recharge" (via refueling) in a matter of minutes. Jun 19, 2020 10:01AM EDT (RTTNews) - Shares of Tortoise Acquisition Corp. (SHLL) are surging more than 50% Friday morning after Hyliion Inc., a … The stock ended Friday's session up 41.2% on the day -- and up 140% since the morning of June 19, when it announced plans to merge with a company called Hyliion. Dozens are overpriced and overhyped – you should ditch them ASAP. Diesel-engine maker Cummins (NYSE:CMI) has been doing the same thing for years. The stock ended Friday's session up 41.2% on the day -- and up 140% since the morning of June 19, when it announced plans to merge with a company called Hyliion. Shares of Tortoise Acquisition (NYSE:SHLL) are on quite a run. There are stocks out there, already trading – not SPACs or IPOs – with the same potential. According to Torstoise Acquisitions CEO Vince Cubbage, there is "currently no opportunity to capture hydrogen and use it for energy," although it has been a very highly anticipated technology in recent years. We own stock of Tortoise Acquisition Corp. (NYSE: SHLL), which is set to merge with Hyliion soon, and have been bullish on the company for a while now. Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Check your email to access your free report. In fact, investors in Hyliion could probably still get a decent pop in the next year if they buy now. Initially, Nikola traded for $73, but it has since dropped to $19 after rumors of fraud by CEO Trevor Milton. Chief Investment Strategist Shah Gilani just held his first-ever stock-picking lightning round event – running through more than 50 stocks to tell you if they are stocks to buy or stocks to sell. There have been more than 100 SPAC IPOs this year, generating about $42 billion in proceeds. That means this is an opportunity to invest higher up in the supply chain. Healy is quoted saying, "Our strategy is to build Class A electrified drivetrains, not to create buzz around the stock.". Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. They're all excellent questions. Unfortunately, Nikola has not performed as well as other electric vehicle SPACs, despite significantly more hype. That's a great opportunity for investors who missed out on SHLL but still want a pop from this so-far trusty SPAC. Those are cost savings and lower emissions, without sacrificing efficient hauling. Tortoise is a special-purpose acquisition company, or SPAC, a type of company created specifically to acquire one or more other companies. Second, and related, Hyliion argues that a fleet of Hypertruck-equipped trucks will be significantly cheaper to operate (and, it argues, cleaner) than a fleet composed of either Nikola's or Tesla's Class 8 trucks. Hyliion will be merging with Tortoise Acquisition Corp. (NYSE: SHLL) and the newly combined company will remain on the New York Stock Exchange under the new ticker symbol (“HYLN”). That said, it's certainly intriguing. Is this a scam? © 2020 Money Morning All Rights Reserved. Save my name, email, and website in this browser for the next time I comment. The quick run-up has investors asking some big questions. For starters, Hyliion does not provide the truck itself, but the thing that powers the truck. WARNING: 22 million shares of this stock trade hands every day – make sure you're nowhere near it. Market data powered by FactSet and Web Financial Group. In fact, it got itself in some trouble in mid-September. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Investors Are Talking About Hyliion and Tortoise Acquisition @themotleyfool #stocks $SHLL $TSLA $CMI $DAN $NKLA, Why Tortoise Acquisition, DiamondPeak Holdings, and Graf Industrial Stocks All Just Jumped, Forget Tesla's Battery Day, These EV Stories Are More Important, Why Electric-Vehicle Blank-Check Stocks Are Getting Clobbered Today, Why Tortoise Acquisition Stock Surged Today, Why DiamondPeak and Spartan Energy Stocks Jumped Monday, While Tortoise Acquisition Crashed, Copyright, Trademark and Patent Information.

.

Stormtrooper Shooting Meme, Dbd Unrelenting, Bogan Synonym, Pisces Monthly Horoscope 2020, Bsnl Fibernet Plans,