If you want another EV rally, and NIO,NIU and XPEV are not giving you enough love on this short trading day, choose Hennessy Capital Acquisition Corp shares (NASDAQ: HCAC).
As I said in my article on Monday..
HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. The closer the merger date, the higher the price will go. Simple as that.
…and seems like I was right, once again. The date of the final closing of this merger is not known yet, but why waiting for it when HCAC chares are so cheap right now.
Smart money moves in fast and if Friday will be as good as pre-market session (10%+) Canoo could be another EV winner for the end of the year.
But thread carefully, because The NYSE and Nasdaq will close at 1 p.m. ET Friday which will make this trading day very volatile….or boring because everyone already left the building enjoying long weekend.