Why ArcLight Clean Transition Stock Jumped 12% Today

Howard Smith, The Motley Fool
·2 min read
Why ArcLight Clean Transition Stock Jumped 12% Today

ArcLight Clean Transition (NASDAQ: ACTC) is joining the ranks of special purpose acquisition companies (SPACs) merging with electric-vehicle makers and bringing them public. Shares of ArcLight have more than doubled in the last week, and advanced those gains with a 12% jump as of 11 a.m. on Tuesday. ArcLight will be bringing Proterra public through a business combination expected to close in the first half of 2021.