AltC Acquisition Corp. ALCC shares are trading higher Monday after Oklo announced an agreement with Diamondback Energy Inc. FANG to collaborate on a long-term power purchase agreement.
The Details:
The letter of agreement (LOI) signed by the companies outlines a 20-year power purchase agreement between Oklo and Diamondback. According to the terms of the LOI, Oklo intends to license, build, and operate powerhouses capable of generating 50 MW of electric power to Diamondback E&P LLC, a wholly owned subsidiary of Diamondback near Midland, Texas.
The LOI also includes options to renew and extend the potential power purchase agreement for an additional 20-year term.
On July 11, 2023, Oklo and AltC Acquisition Corp. announced that they have entered into a definitive business combination agreement that upon closing would result in the combined company to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”
Related News: Sam Altman’s Under-The-Radar SPAC Fuses AI Expertise With Nuclear Energy: Here Are The Others Involved
How To Buy ALCC Stock:
By now you're likely curious about how to participate in the market for AltC Acquisition – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of AltC Acquisition, which is trading at $16.11 as of publishing time, $100 would buy you 6.21 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
ALCC Price Action: According to Benzinga Pro, AltC Acquisition shares are up 22.4% at $16.03 at the time of publication Monday.
Image: Gerd Altmann from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
