AFJK, a SPAC, has been working toward a business combination with United Hydrogen Group (a hydrogen/energy business) valued around $1.5–1.6 billion that would result in a Nasdaq-listed entity. The company recently announced its 17th one-month extension of the deadline (to May 6, 2026) via a small trust account deposit and promissory note on April 7, with no brand-new press release or filing appearing on April 14. The stock exhibited extreme volatility in early April (e.g., massive volume spike and +140% move on April 9 to a high near $85, followed by pullbacks). On April 14, it broke out sharply from the prior close of ~$40.40, surging over 60–72% intraday to the $66 area on elevated relative volume. With a very low float (~2.8 million shares), the move triggered multiple LULD volatility halts. Trader chatter on X highlighted the “$1.6B Nasdaq listing catalyst,” momentum above resistance (~$50), and speculative buying in this low-float name. The price action reflects classic retail/momentum-driven trading on the long-pending deal rather than a discrete new fundamental trigger.
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