Alussa Energy Acquisition II (ALUB)
Market Price (3/21/2026): $10.015 | Market Cap: $-Sector: Financials | Industry: Multi-Sector Holdings
Alussa Energy Acquisition II (ALUB)
Market Price (3/21/2026): $10.015Market Cap: $-Sector: 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 3.8% | Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% | Key risksALUB key risks include [1] failing to complete a business combination within its required timeframe, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -66% |
| Low stock price volatilityVol 12M is 3.8% |
| Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% |
| Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -66% |
| Key risksALUB key risks include [1] failing to complete a business combination within its required timeframe, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Alussa Energy Acquisition II (ALUB) is a Special Purpose Acquisition Company (SPAC) that has not yet announced a definitive business combination.
As a blank-check company, ALUB's primary purpose is to merge with or acquire an operating business. The absence of an identified or announced merger target means there is no underlying operating business performance or future growth prospects to drive significant price movement, leading to the stock trading near its initial IPO price.
2. The stock trades around its initial public offering (IPO) price of $10.00 per unit, supported by proceeds held in a trust account.
Alussa Energy Acquisition Corp. II completed its IPO in November 2025, offering units at $10.00 each, and raised approximately $287.5 million. These IPO proceeds are held in a trust account, which provides a floor for the stock price, as investors have the option to redeem their shares at or near the initial offering price if no suitable acquisition is completed. The stock has traded between a low of $10.03 and a high of $11.19 over the past 52 weeks.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
11/30/2025 to 3/20/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | -4.8% | 9.5% |
| Sector (XLF) | -8.0% | 30.7% |
Fundamental Drivers
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Market Drivers
8/31/2025 to 3/20/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 1.1% | 9.5% |
| Sector (XLF) | -8.8% | 30.7% |
Fundamental Drivers
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Market Drivers
2/28/2025 to 3/20/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 10.4% | 9.5% |
| Sector (XLF) | -5.0% | 30.7% |
Fundamental Drivers
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Market Drivers
2/28/2023 to 3/20/2026| Return | Correlation | |
|---|---|---|
| ALUB | ||
| Market (SPY) | 70.3% | 9.5% |
| Sector (XLF) | 43.7% | 30.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ALUB Return | - | - | - | - | - | 1% | 1% |
| Peers Return | -3% | 2% | 1% | 0% | -1% | 1% | -1% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -3% | 76% |
Monthly Win Rates [3] | |||||||
| ALUB Win Rate | - | - | - | - | - | 33% | |
| Peers Win Rate | 50% | 83% | 8% | 0% | 29% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| ALUB Max Drawdown | - | - | - | - | - | -0% | |
| Peers Max Drawdown | -5% | -0% | 0% | 0% | -2% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -3% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KRSP, KBON, PAII, IGAC, TLNC.
[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 3/20/2026 (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 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -26.9% | -25.4% |
| % Gain to Breakeven | 36.7% | 34.1% |
| Time to Breakeven | 525 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.3% | -33.9% |
| % Gain to Breakeven | 76.5% | 51.3% |
| Time to Breakeven | 295 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.1% | -19.8% |
| % Gain to Breakeven | 35.2% | 24.7% |
| Time to Breakeven | 338 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -83.7% | -56.8% |
| % Gain to Breakeven | 515.2% | 131.3% |
| Time to Breakeven | 4,470 days | 1,480 days |
Compare to KRSP, KBON, PAII, IGAC, TLNC
In The Past
SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.
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Asset Allocation
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About Alussa Energy Acquisition II (ALUB)
AI Analysis | Feedback
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- 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
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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
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.10 |
| Mkt Cap | 0.1 |
| 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 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 | 0.1 |
| P/S | - |
| 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 | -0.2% |
| 3M Rtn | 0.2% |
| 6M Rtn | 0.5% |
| 12M Rtn | 0.5% |
| 3Y Rtn | 0.5% |
| 1M Excs Rtn | 5.0% |
| 3M Excs Rtn | 3.4% |
| 6M Excs Rtn | 2.4% |
| 12M Excs Rtn | -14.1% |
| 3Y Excs Rtn | -66.7% |
Earnings Returns History
Expand for More| 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 | |||
External Quote Links
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| YCharts | Perplexity Finance |
| FinViz |
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