CITIC Capital Acquisition Corp (CCAC)

[Atlanta1]

from briefing.com just now:

10:38
SCALP
ScalpTrader: CCAC Swing Update
CITIC Capital Acquisition (CCAC 11.25 +0.04) is a name we are long in the SPAC Swing Portfolio from $10.27.
I also highlighted the CCAC Warrants at $1.00. They are now trading at $2.55, or 155% in the money. Still Long.
The reason I mention CCAC is bc there was a story out yesterday indicating that Chinese EV maker Byton is in talks to go public through a SPAC.
CCAC is a SPAC that is focused on China, is targeting the "Sustainability" space and is backed by one of the top private equity firms in China.
Also, CCAC has been public for a year now, which suggests a deal could be just around the corner.
I find CCAC common shares attractive here at $11.25 and think they are worth holding even if CCAC doesn't win the Byton deal.