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ATIF Stock: 12 Things to Know About ATIF Holdings as It Soars on SPAC News

ATIF Holdings (NASDAQ:ATIF) stock is on the rise Monday after announcing plans to create a special purpose acquisition company (SPAC) department.

SPACs join company on puzzle pieces and handshake, 3d render
Source: NESPIX / Shutterstock.com

Here’s what potential ATIF investors need to know about the SPAC news.

  • ATIF Holdings is an L.A.-based holding group that handles asset management, investment holding, and online financial information.
  • The company says that his new department will be responsible for the creation of a SPAC with the goal of taking another company public.
  • This will have it handling the roles of founder, management team, and sponsor for the SPAC.
  • ATIF Holdings notes that its goal is to generate profits by creating SPACs and having them target private companies with high growth potential.
  • It notes that this could allow it to take private companies public just a few months after the SPAC completes its initial public offering (IPO).
  • According to ATIF Holdings, there’s significant value in creating SPACs with the surge of private companies using them to go public.
  • That includes 248 SPACs in the U.S. raising $83.4 billion in 2020.
  • This movement continues into 2021 with 160 SPACs having raised $50.1 billion so far.
  • A SPAC is a blank-check company that is created with the purpose of taking a private company public.
  • This type of company is appealing as it allows a private company to go public without the hassle of dealing with the normal regulations surrounding an IPO.
  • ATIF stock is seeing heavy trading with some 50 million shares having changed hands as of this writing.
  • For comparison, the company’s daily average trading volume is 6.72 million shares.

ATIF stock was up 29.6% as of Monday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/02/atif-stock-12-things-to-know-about-atif-holdings-as-it-soars-on-spac-news/.

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