Nuclear SPAC Stock Skyrockets on Merger Frenzy: HOND Shares Soar as Terrestrial Energy Deal Nears
HOND stock has surged into the mid-$20s after trading in the high teens last week Investing Marketbeat. Its volume spiked and the stock gapped up from $18.86 to $21.69 at open on Oct. 13 Marketbeat. – The catalyst is a proposed merger with Terrestrial Energy Inc., a next-gen nuclear reactor company. The SEC declared the merger’s S-4 registration effective on Sept. 26, and HCM II shareholders will vote on Oct. 20 to approve the deal Businesswire Businesswire. If approved, the combined firm will list on Nasdaq as “IMSR” and “IMSRW” for its warrants Businesswire. – Terrestrial’s technology – an Integral Molten Salt Reactor – is getting major backing. Terrestrial was selected for the DOE’s Nuclear Fuel Line Pilot Program and even got a safety green light from the U.S. Nuclear Regulatory Commission, marking the first-ever NRC approval of a molten-salt reactor design Globenewswire Globenewswire. – Analysts and funds are mixed. MarketBeat notes Weiss Ratings still calls HOND a sell Marketbeat, while an independent analyst at Seeking Alpha just initiated coverage with a Buy, citing Terrestrial’s regulatory momentum and tech edge Seekingalpha. Institutional investors like JPMorgan are accumulating HOND and hedge funds are raising stakes Marketbeat Marketbeat. – Technical indicators are
