OceanLight Acquisition (OCLT)
Market Price (11/6/2026): $9.95 | Market Cap: $168.0 MilSector: Financials | Industry: Multi-Sector Holdings
OceanLight Acquisition (OCLT)
Market Price (11/6/2026): $9.95Market Cap: $168.0 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 2.7% | Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -83% | Key risksOCLT key risks include [1] an inability to complete an initial business combination. |
| Low stock price volatilityVol 12M is 2.7% |
| Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% |
| Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -83% |
| Key risksOCLT key risks include [1] an inability to complete an initial business combination. |
Qualitative Assessment
AI Analysis | Feedback
OceanLight Acquisition (OCLT) stock has remained largely at the same level since it went public on 9/11/2026 because of the following key factors:
1. Stable trading typical of Special Purpose Acquisition Companies (SPACs) prior to business combination completion.
OceanLight Acquisition (OCLT) is a SPAC that priced its initial public offering at $10.00 per unit in August 2026, with its ordinary shares beginning separate trading on September 10, 2026. The inherent structure of a SPAC often results in its common stock trading near the trust value (typically $10.00 per share) due to the option for shareholders to redeem their shares for this value before a business combination is finalized, thereby limiting downside risk and anchoring the price. For example, OCLT closed at $9.91 on October 27, 2026, exhibiting a 0.2% gain over the preceding month, indicative of this stability.
2. Announcement of a definitive merger agreement provided a clear valuation benchmark.
OceanLight Acquisition announced on September 30, 2026, that it had entered into a definitive Agreement and Plan of Merger with AIRE Inc. on September 28, 2026, in fiscal Q3 2027 (OceanLight's fiscal year ends on May 31). This deal values AIRE Inc. at $1.0 billion, with AIRE shareholders slated to receive 100,000,000 purchaser ordinary shares priced at $10.00 each. This established merger price largely determined the trading range for OCLT shares, keeping them tethered to the proposed acquisition value as the market assessed the likelihood of the transaction's completion.
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OceanLight Acquisition (OCLT) stock has remained largely at the same level since it went public on 9/11/2026 because of the following key factors:
1. Stable trading typical of Special Purpose Acquisition Companies (SPACs) prior to business combination completion.
OceanLight Acquisition (OCLT) is a SPAC that priced its initial public offering at $10.00 per unit in August 2026, with its ordinary shares beginning separate trading on September 10, 2026. The inherent structure of a SPAC often results in its common stock trading near the trust value (typically $10.00 per share) due to the option for shareholders to redeem their shares for this value before a business combination is finalized, thereby limiting downside risk and anchoring the price. For example, OCLT closed at $9.91 on October 27, 2026, exhibiting a 0.2% gain over the preceding month, indicative of this stability.
2. Announcement of a definitive merger agreement provided a clear valuation benchmark.
OceanLight Acquisition announced on September 30, 2026, that it had entered into a definitive Agreement and Plan of Merger with AIRE Inc. on September 28, 2026, in fiscal Q3 2027 (OceanLight's fiscal year ends on May 31). This deal values AIRE Inc. at $1.0 billion, with AIRE shareholders slated to receive 100,000,000 purchaser ordinary shares priced at $10.00 each. This established merger price largely determined the trading range for OCLT shares, keeping them tethered to the proposed acquisition value as the market assessed the likelihood of the transaction's completion.
3. Merger remains subject to ongoing regulatory and shareholder approvals.
Despite the definitive agreement, the business combination with AIRE Inc. is not yet closed and remains subject to several customary closing conditions. These include the effectiveness of a Form F-4 registration statement with the SEC and the requisite approvals from the shareholders of both OceanLight Acquisition and AIRE Inc., as well as Nasdaq listing approval. The period between the announcement of a definitive agreement and the actual closing often sees the SPAC's stock trade around the deal price, reflecting the market's expectation of the merger's success without the full premium or discount that would accompany a finalized transaction.
4. Absence of operational business or financial performance metrics.
As a blank-check company, OceanLight Acquisition does not possess any core business operations or generate operating revenue. Its primary activity is identifying and executing a business combination. The latest quarterly report (10-Q) for the three months ended August 31, 2026, filed on October 2, 2026, showed no operating revenue, with net income derived solely from trust investment interest. Without an underlying operational business, there are no company-specific earnings reports, product developments, or market share changes to drive significant fluctuations in the stock price, contributing to its stable movement.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| OCLT | ||
| Market (SPY) | -1.9% | -3.7% |
| Sector (XLF) | 1.0% | 6.3% |
Fundamental Drivers
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Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| OCLT | ||
| Market (SPY) | 2.3% | -3.7% |
| Sector (XLF) | 10.7% | 6.3% |
Fundamental Drivers
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Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| OCLT | ||
| Market (SPY) | 8.4% | -3.7% |
| Sector (XLF) | 11.1% | 6.3% |
Fundamental Drivers
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Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| OCLT | ||
| Market (SPY) | 81.3% | -3.7% |
| Sector (XLF) | 85.5% | 6.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OCLT Return | - | - | - | - | - | 0% | 0% |
| Peers Return | 0% | 0% | 0% | 0% | 0% | 70% | 70% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| OCLT Win Rate | - | - | - | - | - | 67% | |
| Peers Win Rate | 0% | 0% | 0% | 0% | 0% | 19% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| OCLT Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | 0% | 0% | 0% | 0% | 0% | -1% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IPHX, JONE, JTTT, MIAC, MRCO.
[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 11/5/2026 (YTD)
How Low Can It Go
OCLT 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
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Asset Allocation
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OCLT 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 OceanLight Acquisition (OCLT)
OceanLight Acquisition (OCLT) is a newly formed blank check company, also known as a Special Purpose Acquisition Company (SPAC). Incorporated in May 2026, its sole purpose is to identify and execute a business combination, such as a merger, acquisition, or share exchange, with one or more private operating businesses. Essentially, OCLT raises capital from public investors to acquire a private company, thereby taking the acquired company public.
As a SPAC, OCLT does not currently have any active business operations, products, or services. Its primary "service" is to find a suitable target company and facilitate its public listing through the acquisition process. The company is actively seeking prospective target businesses without limiting its search to a specific geographic region or industry.
OCLT currently has no specific acquisition target under consideration and has not engaged in any substantive discussions with potential businesses. The company acknowledges that its ability to identify and evaluate a suitable target may be influenced by significant competition from other SPACs also seeking business combination candidates.
AI Analysis | Feedback
OceanLight Acquisition (OCLT) is like a private equity firm that has raised capital with the sole purpose of finding and acquiring one private company to take public.
Alternatively, think of it as a real estate developer that has secured funding but is still actively searching for the perfect property to acquire and develop into its first major project.
AI Analysis | Feedback
Major Services of OceanLight Acquisition (OCLT)
- Business Combination Facilitation: Identifying and executing mergers, acquisitions, or similar transactions with one or more private businesses to facilitate their public listing.
AI Analysis | Feedback
OceanLight Acquisition (OCLT) is a newly formed blank check company (Special Purpose Acquisition Company or SPAC). Its purpose is to effect a business combination with one or more businesses or entities. As stated in its description, OCLT does not currently have any specific business combination under consideration and has not yet identified or contacted any prospective target businesses.
Therefore, OceanLight Acquisition (OCLT) does not currently have major customers as it is not an operating company selling products or services. Its primary function at this stage is to identify and acquire a target company.
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Ping Zhang, Chief Executive Officer, Chief Financial Officer and Chairman
Ping Zhang has served as the Chairman, Chief Executive Officer, and Chief Financial Officer of OceanLight Acquisition Corporation since its formation in May 2026. He also holds the title of General Manager at Green Leaf Air Freight Inc., a U.S.-based investment and air freight company, a position he has held since November 2020. Earlier in his career, Mr. Zhang founded and served as the General Manager of Shanghai Tongli Advertising Co., Ltd., an advertising company, from February 2006 to November 2020. Prior to that, he founded and was the General Manager of Hunan Silver Fox Advertising Company, an advertising company in China, from March 1999 to December 2002. Mr. Zhang has a significant history of involvement with Special Purpose Acquisition Companies (SPACs), having served as Chairman, Chief Executive Officer, Chief Financial Officer, and director of Quantumsphere Acquisition Corporation (Nasdaq: QUMS) since July 2024, and GalaxyEdge Acquisition Corporation (NYSE: GLED) since January 2026. He has also been a director for several other SPACs, including Quartzsea Acquisition Corporation (Nasdaq: QSEA) since March 2025, QuasarEdge Acquisition Corporation (NYSE: QRED) since April 2026, Yotta Acquisition Corporation (Nasdaq: YOTA) since May 2025, and Quetta Acquisition Corporation (Nasdaq: QETA) since May 2025. His significant economic interest in OceanLight Capital Sponsor Ltd., the company's sponsor, aligns him with the financial backing of the SPAC.
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Key Risks to OceanLight Acquisition (OCLT)
- Risk of inability to complete an initial business combination.
- Risk from significant competition among other SPACs in pursuing business combination transaction candidates, which may impact the attractiveness of acquisition terms.
AI Analysis | Feedback
Significant competition among other SPACs in pursuing business combination transaction candidates, which may impact OCLT's ability to identify and evaluate a target company and the attractiveness of acquisition terms it can negotiate.
AI Analysis | Feedback
AI Analysis | Feedback
For OceanLight Acquisition (OCLT), as a blank check company formed to effect a business combination, its future revenue growth over the next 2-3 years will emerge from the successful completion of an acquisition and the subsequent performance of the acquired entity. Therefore, the expected drivers of this future revenue growth for OCLT are:
- Successful Identification and Acquisition of a High-Growth Target Company: A primary driver will be the ability of OceanLight Acquisition to identify and successfully merge with a private operating company that possesses strong inherent revenue growth potential within its specific industry and market.
- Strategic Selection of a Target with Robust Market Position: Future revenue growth will be significantly influenced by the strategic selection of a target company that holds a defensible market position, offers innovative products or services, or operates in a sector with favorable long-term growth trends.
- Operational Execution and Integration of the Acquired Business: Post-acquisition, the effective integration of the target company and its ability to execute its operational and growth strategies, such as expanding its customer base, launching new offerings, or penetrating new geographic markets, will directly drive the combined entity's revenue.
- Leveraging Management Team's Strategic and Operational Expertise: The application of OceanLight Acquisition's management team's experience and strategic insights to the acquired business can accelerate its existing growth initiatives and identify new opportunities for revenue expansion.
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.87 |
| 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 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 | - |
Price Behavior
| Market Price | $9.92 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 09/11/2026 | |
| Distance from 52W High | -0.3% | |
| 50 Days | 200 Days | |
| DMA Price | ||
| DMA Trend | ||
| Distance from DMA | ||
| 3M | 1YR | |
| Volatility | 2.7% | 2.7% |
| Downside Capture | ||
| Upside Capture | ||
| Correlation (S&P 500) |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.03 | 0.07 | 0.05 | -0.05 | 0.01 | -0.01 |
| Up Beta | -0.31 | 0.04 | -0.11 | -0.15 | 0.03 | 0.03 |
| Down Beta | 0.03 | -0.02 | 0.01 | -0.05 | 0.01 | 0.01 |
| Up Capture | 6% | 2% | 2% | 1% | 0% | 0% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 5 | 10 | 10 | 10 | 10 | 10 |
| Down Capture | 4% | 2% | 1% | 1% | 0% | 0% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 4 | 7 | 7 | 7 | 7 | 7 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OCLT | |
|---|---|---|---|---|
| OCLT | 0.8% | 2.6% | 0.90 | - |
| Sector ETF (XLF) | 11.1% | 15.2% | 0.47 | 14.5% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | -4.5% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 27.8% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | 12.5% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 11.8% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 2.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OCLT | |
|---|---|---|---|---|
| OCLT | 0.2% | 2.6% | 0.90 | - |
| Sector ETF (XLF) | 9.1% | 18.4% | 0.36 | 14.5% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | -4.5% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 27.8% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 12.5% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 11.8% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 2.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OCLT | |
|---|---|---|---|---|
| OCLT | 0.1% | 2.6% | 0.90 | - |
| Sector ETF (XLF) | 13.3% | 22.1% | 0.54 | 14.5% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | -4.5% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 27.8% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 12.5% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 11.8% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 2.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/02/2026 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/02/2026 | 10-Q |
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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