On December 31, 2024, BOOTHBAY FUND MANAGEMENT, LLC (Trades, Portfolio) executed a significant transaction involving AlphaTime Acquisition Corp (ATMC, Financial). The firm reduced its holdings by 250,000 shares, bringing its total position in the company to 188,093 shares. This move resulted in a -0.07% change in the firm's portfolio, with the shares traded at a price of $11.35 each. The current position of ATMC in the firm's portfolio stands at 0.05%, reflecting a strategic adjustment in its investment approach.
BOOTHBAY FUND MANAGEMENT, LLC (Trades, Portfolio): A Profile
BOOTHBAY FUND MANAGEMENT, LLC (Trades, Portfolio) is a prominent investment firm based in New York, located at 140 East 45th Street. The firm is known for its focus on the technology and financial services sectors, with top holdings including NVIDIA Corp (NVDA, Financial) and Dell Technologies Inc (DELL, Financial). With an equity value of $4.23 billion, the firm manages a diverse portfolio of 1,514 stocks. Its investment philosophy emphasizes strategic positioning in high-growth sectors, leveraging its expertise to maximize returns.
Understanding AlphaTime Acquisition Corp
AlphaTime Acquisition Corp is a blank check company based in the Cayman Islands, primarily engaged in effecting mergers, share exchanges, asset acquisitions, and similar business combinations. As of the latest data, the company has a market capitalization of $78.907 million, with its stock priced at $11.48. Despite its recent IPO on January 19, 2023, the company has shown a 14.23% increase in stock price since its debut. However, the company lacks a GF-Score valuation, making it challenging to assess its intrinsic value accurately.
Impact of the Transaction
The reduction in shares of AlphaTime Acquisition Corp by BOOTHBAY FUND MANAGEMENT, LLC (Trades, Portfolio) has led to a slight decrease in the firm's portfolio allocation. The trade price of $11.35 reflects a strategic decision to adjust the firm's exposure to this particular stock. Currently, ATMC represents 2.80% of the firm's holdings in the traded stock, indicating a cautious approach towards this investment.
Financial Metrics and Valuation
AlphaTime Acquisition Corp's financial metrics present a mixed picture. The company has a Balance Sheet Rank of 7/10, suggesting moderate financial strength. However, the lack of GF Valuation data poses challenges in determining its fair market value. The company's Profitability Rank is low at 2/10, and it has not recorded any revenue or earnings growth over the past three years, resulting in a Growth Rank of 0/10.
Performance and Growth Indicators
Since the transaction, AlphaTime Acquisition Corp's stock has gained 1.15%, reflecting a modest positive momentum. The stock has shown a 14.23% increase since its IPO, indicating some level of investor confidence. However, the company's growth metrics remain stagnant, with no recorded revenue or earnings growth in the past three years. This lack of growth potential is further highlighted by its Momentum Rank of 0/10.
Conclusion
The recent transaction by BOOTHBAY FUND MANAGEMENT, LLC (Trades, Portfolio) signifies a strategic realignment of its portfolio, reducing exposure to AlphaTime Acquisition Corp. While the stock has shown some positive price movement, the lack of substantial financial growth and valuation data presents challenges for future performance assessments. As the firm continues to focus on technology and financial services, the potential for AlphaTime Acquisition Corp will largely depend on its ability to execute successful business combinations and improve its financial metrics.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
