Hall Chadwick Stock Is Stuck Near $10 — The REEcycle Deal Is the Real Test
Hall Chadwick Acquisition Corp. shares were little changed in thin Nasdaq trade on Wednesday after a quarterly filing showed first-quarter profit came from interest on cash raised in its IPO, not from an operating business. The Class A shares, ticker HCAC, were quoted at $10.01, up 1 cent from the previous close, with a $10.06 intraday high and $10.01 low in the latest available market data. The stock’s calm move fits the usual pattern for a special purpose acquisition company, or SPAC, before a merger closes: investors tend to trade it close to the cash it holds, unless a deal changes the risk.