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HSPO stock soars to all-time high of $11.37 amid market optimism

Published 12/06/2024, 05:02 AM

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In a remarkable display of market confidence, Horizon Space Acquisition I (HSPO) stock has reached an all-time high, touching $11.37. With a market capitalization of $88.5 million and an InvestingPro Financial Health score rated as "FAIR," the company's stock has shown notably low price volatility. This milestone underscores the company's robust performance and investor enthusiasm in its growth prospects. Over the past year, HSPO has witnessed a commendable 1-year total return of 6%, trading at a P/E ratio of 40.2. This surge to record levels reflects a strong endorsement from the market, as investors rally behind HSPO's strategic initiatives and future potential. InvestingPro analysis suggests the stock is currently fairly valued, with 8 additional key insights available to subscribers.

In other recent news, Squirrel Enlivened International Co., Ltd ("Squirrel Cayman") and Horizon Space Acquisition I Corp. ("HSPO") have revealed plans for a business combination. This merger, if successful, will result in Squirrel Cayman's shares being listed on the Nasdaq Stock Market. The agreement outlines a two-step acquisition process, first merging Squirrel HoldCo with Squirrel Cayman, followed by the merger of Merger Sub with HSPO. However, the completion of the business combination is subject to regulatory and shareholder approvals and other customary conditions.

Both companies are excited about the potential growth and technological advancements this merger could bring. Squirrel Cayman's CEO, Angxiong Zhao, believes the Nasdaq listing will provide necessary capital and financial flexibility, while HSPO's CEO and Chairman, Michael Li, is confident in Squirrel's expertise in e-commerce and brand marketing.

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The proposed business combination will be submitted to HSPO's shareholders for approval. As these are recent developments, investors are advised to read the registration statement and proxy statement/prospectus, as well as other relevant documents filed with the SEC, once they become available.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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