Aimei profit-taking reversed merger extension-fueled surge
The stock experienced extreme volatility following a 1,006% rally on December 18, triggered by the announcement of a 13th extension of its business combination deadline with United Hydrogen Group, a Chinese hydrogen energy firm, pushing the target to December 2026. This SPAC update, approved by shareholders in late November and funded via a trust deposit, sparked speculative buying amid broader interest in delayed mergers. On December 19, shares opened lower in pre-market, dropping 15.8% initially, before further declining intraday amid high volume and multiple volatility trading halts under NASDAQ's Limit Up-Limit Down rules. The reversal reflects typical speculative unwind in low-float blank-check companies, with no new adverse announcements reported, as traders locked in gains from the hype.
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