Investors Should Pass on Hyliion Holdings
Joel Baglole, 07 December 2020
After rising from $10 a share in June to a peak of $58.66 in September (a gain of 487%), Hyliion stock has fallen to $18.04 a share. And the decline looks persistent. Since Nov. 27, the stock dropped 33%. Investors who hold a stake in Hyliion may want to sell now and cut their losses before things get any worse. The company, which designs, develops, and sells electrified powertrain solutions for commercial vehicles, looks to have lost its luster and any momentum the stock seems to have evaporated, leaving its share price deflated.
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Hyliion Stock Isn’t Worth Your Money At This Point
Alex Sirois, 29 October 2020
Investors looking for further alternative fuel vehicle plays might consider Hyliion (NYSE:HYLN) and Hyliion stock. Hyliion has already gone public through a special purpose acquisition company (SPAC). Now it is working towards production. The company is quite different from industry peers Tesla (NASDAQ:TSLA) and Nikola (NASDAQ:NKLA) in its approach and offerings. Yet, it does bear some similarities to Nikola, specifically the manner in which it has come to market.
Where Tesla and Nikola will produce class 8 trucks, Hyliion is producing drive train solutions. Like Nikola, Hyliion has come to market via the SPAC route. And like Nikola, its stock has fallen post-merger. Furthermore, the company may also soon be embroiled in controversy. First, the good.
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Investors Should Not Buy Hyliion Stock
Mark R. Hake, 27 October 2020
Hyliion Holdings (NYSE:HYLN) stock has had a difficult launch since it closed its reverse merger with Tortoise Acquisition Corp. Hyliion stock, trading at $22.80 this afternoon, has fallen over 50% since Sept. 28 when it was changing hands for $48. That was the same day that the reverse merger was approved by the shareholders of both companies.
Since Oct. 14, the day that the merger closed and the trading symbol was changed to HYLN, the stock is down nearly 30%. But to be fair, the stock, which previously traded under the symbol SHLL, has risen significantly since the deal was announced on June 19. The stock closed on that day at $14.04
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Why Investors Are Talking About Hyliion and Tortoise Acquisition
John Rosevear, 28 June 2020
Shares of Tortoise Acquisition (NYSE:SHLL) are on quite a run. The stock ended Friday’s session up 41.2% on the day — and up 140% since the morning of June 19, when it announced plans to merge with a company called Hyliion. The quick run-up has investors asking some big questions. Did I miss something? Is this a scam? Who the heck are these guys?
What is Tortoise Acquisition?
Tortoise is a special-purpose acquisition company, or SPAC, a type of company created specifically to acquire one or more other companies. Sometimes called a “shell company,” SPACs generally have no ongoing businesses of their own. In this case, Tortoise was created by a team of veteran energy-industry executives and investors with the goal of finding and investing in one or more good businesses related to their shared area of interest, renewable natural gas. That’s where Hyliion comes in.
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