Alussa Energy Acquisition II (ALUB)
Market Price (6/1/2026): $10.03 | Market Cap: $360.5 MilSector: Financials | Industry: Multi-Sector Holdings
Alussa Energy Acquisition II (ALUB)
Market Price (6/1/2026): $10.03Market Cap: $360.5 MilSector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 3.0% | Trading close to highsDist 52W High is -0.5%, Dist 3Y High is -0.5% Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -82% | Key risksALUB key risks include [1] failing to complete a business combination within its required timeframe, Show more. |
| Low stock price volatilityVol 12M is 3.0% |
| Trading close to highsDist 52W High is -0.5%, Dist 3Y High is -0.5% |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -82% |
| Key risksALUB key risks include [1] failing to complete a business combination within its required timeframe, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Alussa Energy Acquisition II (ALUB) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. As a pre-merger Special Purpose Acquisition Company (SPAC), Alussa Energy Acquisition II (ALUB) has consistently traded near its trust value. This is typical for SPACs that have not yet announced a definitive business combination, as the trust value acts as a de facto floor for the stock price. The company reported $291,439,128 in its trust account as of March 31, 2026, with Class A shares classified as redeemable temporary equity at a redemption value of $10.14 per share, further reinforcing this stability.
2. The absence of a definitive business combination announcement during the specified period contributed to the stable stock movement. Without a clear merger target or a completed de-SPAC transaction, investor sentiment remains largely neutral, preventing significant upward or downward price swings.
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Stock Movement Drivers
Fundamental Drivers
The 0.0% change in ALUB stock from 2/28/2026 to 5/31/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 5312026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.03 | 10.03 | 0.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | � | 0.0% |
| Net Income Margin (%) | � | � | 0.0% |
| P/E Multiple | � | � | 0.0% |
| Shares Outstanding (Mil) | 32 | 36 | -10.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2026 to 5/31/2026| Return | Correlation | |
|---|---|---|
| ALUB | 0.0% | |
| Market (SPY) | 10.6% | 12.1% |
| Sector (XLF) | 0.8% | 8.1% |
Fundamental Drivers
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Market Drivers
11/30/2025 to 5/31/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 11.3% | 10.8% |
| Sector (XLF) | -2.4% | 26.4% |
Fundamental Drivers
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Market Drivers
5/31/2025 to 5/31/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 29.8% | 10.8% |
| Sector (XLF) | 2.8% | 26.4% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 5/31/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 88.1% | 10.8% |
| Sector (XLF) | 70.5% | 26.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ALUB Return | - | - | - | - | - | 0% | 0% |
| Peers Return | -4% | 1% | -3% | ||||
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| ALUB Win Rate | - | - | - | - | - | 60% | |
| Peers Win Rate | 0% | 60% | |||||
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| ALUB Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -4% | ||||||
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KRSP, KBON.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
ALUB has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
ALUB has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Alussa Energy Acquisition II (ALUB)
AI Analysis | Feedback
nullAI Analysis | Feedback
- Special Purpose Acquisition Company (SPAC) vehicle: A blank check company formed for the sole purpose of effecting a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses.
AI Analysis | Feedback
```htmlAlussa Energy Acquisition II (ALUB) is a Special Purpose Acquisition Company (SPAC). As described, it is a newly incorporated blank check company formed for the purpose of effecting a business combination with one or more businesses or entities. To date, its efforts have been limited to organizational activities and activities related to its offering. The company has not selected any specific business combination target and has not generated any revenues. It does not expect to generate operating revenues until it consummates an initial business combination.
Therefore, Alussa Energy Acquisition II (ALUB) currently has no major customers, as it is not yet an operating company and has generated no revenues from selling products or services.
```AI Analysis | Feedback
nullAI Analysis | Feedback
Ole Slorer, Chief Executive Officer and Director
Mr. Slorer is a seasoned finance and energy industry executive with over 35 years of experience in investment banking, capital markets, and industrial technology sectors. He previously served as a Managing Director and Head of Energy and Infrastructure Investment Banking at BTIG. Since 2024, Mr. Slorer has been a Director on the Board of Moreld AS, a Norwegian engineering and offshore marine services firm.
Benjamin Atkins, Chief Financial Officer
Mr. Atkins is currently an Advisor to Alussa Energy and Actus Logistics. He is a co-founder and partner of Rugen Street Capital. Mr. Atkins was previously a member of the management team of Power and Digital Infrastructure Acquisition Corporation ("XPDI"), a SPAC that merged with Core Scientific (NASDAQ: CORZ) in 2022. He also co-founded HODL Ranch, a blockchain-based data center company, and Skybox Datacenters, an enterprise data center company.
Richard Anderson, Chairman
Mr. Anderson is the CEO of Coastline Exploration Limited. From 2014 to 2019, he served as a Director and Chairman of the Compensation Committee of Gulf Marine Services (LSE: GMS). Mr. Anderson also served as an Independent Director for Alussa Energy Acquisition Corp ("Alussa I").
Daniel Barcelo, Director
Mr. Barcelo has over 30 years of experience in the energy industry, both domestically and internationally, covering renewables and traditional oil and gas. He is currently the Chairman of the Board and CEO for T1 Energy. Mr. Barcelo founded Alussa I, which completed a business combination with T1 Energy in July 2021. He also founded Alussa Energy LLC, a sponsor and developer of clean energy projects. Previously, he was a Portfolio Manager at Moore Capital Management and an equity research analyst with Bank of America and Lehman Brothers. Mr. Barcelo served as the CEO, President, and Director of Alussa I, which completed a $288 million initial public offering in 2019.
Jesse Peltan, Director
Mr. Peltan is a co-founder of HODL Ranch, where he served as CTO and developed systems for bitcoin mining in West Texas using wind and solar energy. He was recognized by Forbes 30 Under 30 in energy. In 2022, Mr. Peltan was a member of the management team of Power and Digital Infrastructure Acquisition Corporation ("XPDI"), the SPAC that merged with Core Scientific (NASDAQ: CORZ). He is also a fellow at the Abundance Institute, where he focuses on energy policy.
AI Analysis | Feedback
Risk of failure to complete an initial business combinationAs a newly incorporated blank check company, Alussa Energy Acquisition II has no operations, has not generated any revenues to date, and has not selected any specific business combination target. The company's sole purpose is to effect an initial business combination. There is a significant risk that the company may not be able to identify or successfully consummate an acquisition of one or more businesses or entities within the required timeframe. If an initial business combination is not completed, the company would likely be forced to liquidate, which could result in a loss of investment for shareholders.
AI Analysis | Feedback
nullAI Analysis | Feedback
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AI Analysis | Feedback
The expected drivers of future revenue growth for Alussa Energy Acquisition II (ALUB) over the next 2-3 years are intrinsically linked to its success as a blank check company in identifying and acquiring a target business. These drivers include:- Successful completion of an initial business combination with a suitable operating company. Alussa Energy Acquisition II's future revenue generation is entirely dependent on its ability to acquire a business that produces revenue.
- Strategic focus on identifying target companies within the high-growth energy and power infrastructure sectors, particularly those poised to benefit from the ongoing transition towards renewable energy. This strategic positioning aims to acquire an entity with inherent market growth potential.
- Leveraging the management team's extensive experience in public markets, scaling businesses, and improving operating performance to enhance the strategic direction and operational capabilities of the acquired business. This expertise is expected to drive the revenue-generating potential of the combined entity.
- The ability to acquire one or more businesses with a substantial aggregate enterprise value, targeted between approximately $1.0 billion and $1.5 billion. Acquiring a larger, established business provides a more significant revenue base upon consummation of the business combination, forming a robust foundation for subsequent growth.
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Share Issuance
- Alussa Energy Acquisition Corp. II completed its initial public offering (IPO) on November 14, 2025, offering 28.75 million units at $10.00 per unit, which included the full exercise of an over-allotment option.
- The IPO resulted in gross proceeds of $287.5 million.
- Concurrently with the IPO, the company completed a private placement of 2.5 million warrants at $1.00 per warrant, generating an additional $2.5 million in gross proceeds.
Inbound Investments
- The company received $287.5 million in gross proceeds from its initial public offering in November 2025.
- An additional $2.5 million in gross proceeds was generated from a private placement of warrants.
- Of the proceeds from the IPO and the concurrent private placement, $287.5 million was placed into a trust account.
Trade Ideas
Select ideas related to ALUB.
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|---|---|---|---|---|---|---|---|
| 04302026 | EEFT | Euronet Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04242026 | HOMB | Home BancShares | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.5% | 1.5% | 0.0% |
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 7.1% | 7.1% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 3.9% | 3.9% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -4.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.14 |
| Mkt Cap | 0.4 |
| Rev LTM | - |
| Op Inc LTM | - |
| FCF LTM | - |
| FCF 3Y Avg | - |
| CFO LTM | - |
| CFO 3Y Avg | - |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | - |
| Rev Chg 3Y Avg | - |
| Rev Chg Q | - |
| QoQ Delta Rev Chg LTM | - |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | - |
| CFO/Rev 3Y Avg | - |
| FCF/Rev LTM | - |
| FCF/Rev 3Y Avg | - |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.4 |
| P/S | - |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | - |
| P/CFO | - |
| Total Yield | - |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | - |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.3% |
| 3M Rtn | 0.5% |
| 6M Rtn | 0.5% |
| 12M Rtn | 0.5% |
| 3Y Rtn | 0.5% |
| 1M Excs Rtn | -5.9% |
| 3M Excs Rtn | -9.7% |
| 6M Excs Rtn | -11.5% |
| 12M Excs Rtn | -28.2% |
| 3Y Excs Rtn | -82.3% |
Earnings Returns History
Updated N/A/N/A/N/A| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-Sector Holdings Resources |
| McKinsey & Company Insights |
| Harvard Business Review |
| ValueWalk |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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