What's Going On With Sam Altman's SPAC AltC Stock?

AltC Acquisition Corp. (NYSE:ALCC) shares are moving Monday. The company is scheduled to hold a special meeting of stockholders on Tuesday to approve its proposed business combination with Oklo, Inc. 

The Details:

AltC, a special acquisition company headed by Sam Altman, is targeting a merger with Oklo. Oklo is an advanced nuclear fission start-up company which also counts Altman as a board member. 

The companies announced that they entered into a definitive business combination agreement on July 11, 2023.  If approved and upon closing, the combined company will be listed on the New York Stock Exchange under the ticker symbol "OKLO."

AltC is one of the top trending tickers on Stocktwits and WallStreetBets ahead of the merger vote, and the stock is moving on heavy volume. According to data from Benzinga Pro, more than 1.835 shares have already been traded in the session, compared to the stock’s 100-day average of less than 743,000 shares.

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ALCC Price Action: According to Benzinga Pro, AltC shares are up 0.13% at $14.85 at the time of publication Monday.

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