Pelican Acquisition II (PLCI)
Market Price (9/9/2026): $9.92 | Market Cap: $-Sector: Financials | Industry: Multi-Sector Holdings
Pelican Acquisition II (PLCI)
Market Price (9/9/2026): $9.92Market 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 1.6% | Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -70% | Key risksPLCI key risks include [1] the failure to complete an initial business combination and [2] intense competition from other SPACs hindering its ability to identify a suitable acquisition target. |
| Low stock price volatilityVol 12M is 1.6% |
| Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -70% |
| Key risksPLCI key risks include [1] the failure to complete an initial business combination and [2] intense competition from other SPACs hindering its ability to identify a suitable acquisition target. |
Qualitative Assessment
AI Analysis | Feedback
Pelican Acquisition II (PLCI) stock has remained largely at the same level since it went public on 8/12/2026 because of the following key factors:
1. Trading Near Trust Value Due to SPAC Structure.
Pelican Acquisition II (PLCI) is a Special Purpose Acquisition Company (SPAC) that launched its IPO with units priced at $10.00. As such, its common stock has traded very close to this initial value since it began trading on August 12, 2026, ranging between $9.85 and $9.90 per share. This stability is characteristic of SPACs before a definitive business combination is announced, as investors have the option to redeem their shares for a value near the trust amount, limiting downside risk.
2. Absence of a Business Combination Announcement.
As a blank-check company, PLCI was formed with the purpose of effecting a merger or acquisition, but it has not yet announced a definitive target for a business combination. Without such an announcement, there are no specific company-driven catalysts to significantly move the stock price away from its trust value. The company has approximately $87.11 million deposited in a Trust Account to pursue a business combination within a 21-month deadline.
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Pelican Acquisition II (PLCI) stock has remained largely at the same level since it went public on 8/12/2026 because of the following key factors:
1. Trading Near Trust Value Due to SPAC Structure.
Pelican Acquisition II (PLCI) is a Special Purpose Acquisition Company (SPAC) that launched its IPO with units priced at $10.00. As such, its common stock has traded very close to this initial value since it began trading on August 12, 2026, ranging between $9.85 and $9.90 per share. This stability is characteristic of SPACs before a definitive business combination is announced, as investors have the option to redeem their shares for a value near the trust amount, limiting downside risk.
2. Absence of a Business Combination Announcement.
As a blank-check company, PLCI was formed with the purpose of effecting a merger or acquisition, but it has not yet announced a definitive target for a business combination. Without such an announcement, there are no specific company-driven catalysts to significantly move the stock price away from its trust value. The company has approximately $87.11 million deposited in a Trust Account to pursue a business combination within a 21-month deadline.
3. Quiet Period Restrictions Limiting Information Flow.
PLCI's quiet period, which began after its IPO, expired on September 2, 2026. During this regulatory quiet period, insiders and underwriters are restricted from issuing earnings forecasts or research reports, which typically limits the amount of new information and analyst coverage available to the public. This lack of new, material information contributes to a period of reduced volatility and price stability for newly public companies, particularly SPACs.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
5/31/2026 to 9/8/2026| Return | Correlation | |
|---|---|---|
| PLCI | ||
| Market (SPY) | 1.3% | -37.9% |
| Sector (XLF) | 11.1% | -11.5% |
Fundamental Drivers
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Market Drivers
2/28/2026 to 9/8/2026| Return | Correlation | |
|---|---|---|
| PLCI | ||
| Market (SPY) | 12.0% | -37.9% |
| Sector (XLF) | 12.0% | -11.5% |
Fundamental Drivers
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Market Drivers
8/31/2025 to 9/8/2026| Return | Correlation | |
|---|---|---|
| PLCI | ||
| Market (SPY) | 19.8% | -37.9% |
| Sector (XLF) | 7.4% | -11.5% |
Fundamental Drivers
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Market Drivers
8/31/2023 to 9/8/2026| Return | Correlation | |
|---|---|---|
| PLCI | ||
| Market (SPY) | 76.1% | -37.9% |
| Sector (XLF) | 74.1% | -11.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PLCI Return | - | - | - | - | - | 0% | 0% |
| Peers Return | 2% | 2% | |||||
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| PLCI Win Rate | - | - | - | - | - | 50% | |
| Peers Win Rate | 77% | ||||||
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| PLCI Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | |||||||
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AACP, ACGC, AESP, ALPX, AMAN.
[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 9/8/2026 (YTD)
How Low Can It Go
PLCI 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.
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Asset Allocation
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PLCI 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 Pelican Acquisition II (PLCI)
Pelican Acquisition II (PLCI) is a "blank check company," also known as a Special Purpose Acquisition Company (SPAC). This means it is a newly formed entity with no current business operations or products. Its sole purpose is to raise capital through an initial public offering and then use those funds to identify and acquire an existing private business. The ultimate goal is to complete a merger, share exchange, asset acquisition, or similar business combination, effectively taking the acquired private company public.
PLCI intends to primarily focus its acquisition efforts on target businesses within the global technology industry. The company's strategy involves leveraging its team’s experiences, expertise, and network to identify potential acquisition targets that demonstrate compelling long-term growth potential and highly defensible market positions. Therefore, for an investor, PLCI represents an investment in the management team's ability to successfully identify, evaluate, and execute a business combination with an attractive, unannounced technology company.
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Here are 1-2 brief analogies for Pelican Acquisition II (PLCI):
It's like a publicly-traded private equity firm focused solely on acquiring one tech company to take it public.
It's like Y Combinator for mature private tech companies looking to go public through acquisition.
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- Business Combination Facilitation: The primary service is to identify and acquire a private operating company, effectively taking it public through a merger, share exchange, asset acquisition, or similar transaction.
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Pelican Acquisition II (PLCI) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). As described in the background, it was formed for the sole purpose of effecting a business combination (e.g., merger or acquisition) with one or more businesses or entities. The company explicitly states that it does not have any specific business combination under consideration and has not contacted any prospective target business.
Therefore, Pelican Acquisition II does not currently have any major customers, as it is a non-operating shell company established to acquire an existing business, rather than to sell products or services itself.
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Robert L. Labbe, Chairman of the Board, Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer
Mr. Labbe also serves as the manager of MCAP Realty Advisors. He previously held the roles of Chief Executive Officer of Pelican Acquisition, another Special Purpose Acquisition Company (SPAC), which completed its initial public offering in 2025 and subsequently merged with oil driller Greenland Energy (GLND) in March 2026. He maintains sole voting and dispositive power as the managing member of Pelican II Capital Solutions Limited, which holds a significant indirect stake in Pelican Acquisition II Corporation.
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Key Risks to Pelican Acquisition II (PLCI)
- Failure to Complete an Initial Business Combination: Pelican Acquisition II is a newly formed blank check company with no specific business combination currently under consideration and no discussions with prospective target businesses. The primary purpose of a SPAC is to complete an initial business combination within a specified timeframe. Failure to identify and consummate such a transaction would result in the company's liquidation and the return of funds to public shareholders, which could be at a loss.
- Intense Competition from Other SPACs: The company explicitly states that its ability to identify and evaluate a target company may be significantly impacted by intense competition among other Special Purpose Acquisition Companies (SPACs). This competition can make it challenging to identify suitable acquisition candidates and could adversely affect the attractiveness of the acquisition terms that Pelican Acquisition II may be able to negotiate.
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- Growth within the Global Technology Industry: Pelican Acquisition II intends to primarily focus on acquiring target businesses within the technology industry globally. This strategic focus suggests that the growth of the broader technology sector, including advancements in areas like artificial intelligence, cloud computing, and digital transformation, will serve as a fundamental driver of revenue expansion for any acquired operating company.
- Compelling Long-Term Growth Potential of Acquired Business: The company's business strategy is centered on identifying acquisition targets that exhibit compelling long-term growth potential. This indicates that the eventual business combination will be with an entity possessing inherent capabilities for sustained revenue expansion, such as an expanding customer base, increasing market penetration, or the development of innovative products and services within its specific market segments.
- Highly Defensible Market Positions of Acquired Business: Pelican Acquisition II aims to acquire companies that hold highly defensible market positions. This implies that the target business will likely possess strong competitive advantages, such as proprietary technology, established brand recognition, or significant barriers to entry, which will help secure and grow its revenue streams amidst market competition.
- Leveraging Team’s Experience and Network: PLCI seeks to complete a business combination with a company that aligns with its team’s experiences, expertise, and network of relationships. This alignment suggests that, post-acquisition, the SPAC's management team will contribute to accelerating the growth of the acquired business, potentially through strategic guidance, fostering new partnerships, or facilitating market expansion, thereby directly influencing future revenue generation.
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Peer Outperformance in Multi-Sector Holdings
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 7.7% | 133.2% | 144.2% | IBKR 492% · SNEX 244% · GS 189% |
| Reinsurance | 6 | 18.8% | 75.0% | 124.6% | SPNT 167% · RGA 134% · MTG 126% |
| Diversified Banks | 12 | 38.0% | 136.2% | 118.7% | CM 156% · JPM 152% · RY 144% |
| Life & Health Insurance | 20 | 14.7% | 55.5% | 96.7% | JXN 510% · UNM 316% · FG 218% |
| Multi-Sector Holdings ← | 5 | 4.3% | 55.1% | 81.6% | JONE 361% · JEF 86% · BRK-B 82% |
| Regional Banks | 265 | 25.4% | 85.8% | 68.6% | GCBC 361% · ESQ 353% · VBNK 321% |
| Property & Casualty Insurance | 42 | 8.9% | 73.2% | 64.8% | ASIC 2652900% · HRTG 439% · UVE 300% |
| Multi-line Insurance | 9 | 12.0% | 87.8% | 56.7% | GNW 189% · L 102% · SLF 90% |
| Consumer Finance | 30 | 9.2% | 86.6% | 34.4% | ENVA 593% · EZPW 398% · FCFS 173% |
| Financial Exchanges & Data | 15 | -4.4% | 18.5% | 26.7% | VIRT 214% · CBOE 152% · CME 77% |
| Insurance Brokers | 16 | -13.9% | -1.2% | 20.9% | LIFE 657% · ARX 89% · AJG 82% |
| Commercial & Residential Mortgage Finance | 13 | -42.7% | 35.2% | 19.9% | FNMA 505% · FMCC 490% · ESNT 65% |
| Diversified Financial Services | 4 | 0.5% | 9.3% | 17.3% | FRHC 161% · EQH 94% · TMS -59% |
| Asset Management & Custody Banks | 83 | -10.9% | 17.0% | 14.6% | WT 334% · VCTR 291% · SII 289% |
| Specialized Finance | 3 | 15.7% | 47.8% | -3.0% | EFC 35% · CACC -3% · HASI -13% |
| Mortgage REITs | 33 | -11.7% | 10.8% | -12.5% | NREF 57% · RITM 51% · DX 41% |
| Diversified Capital Markets | 21 | -21.0% | -4.5% | -38.8% | BTCS 614% · OPY 209% · LPLA 145% |
| Transaction & Payment Processing Services | 15 | -0.2% | -3.6% | -45.2% | V 68% · MA 67% · CPAY 54% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.96 |
| 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
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.06 | 0.02 | 0.00 | -0.02 | 0.03 | 0.02 |
| Up Beta | -0.11 | -0.23 | -0.02 | 0.15 | -0.17 | 0.04 |
| Down Beta | -0.13 | -0.17 | -0.03 | -0.06 | -0.03 | 0.06 |
| Up Capture | -0% | -0% | -0% | -0% | -0% | -0% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 4 | 4 | 4 | 4 | 4 | 4 |
| Down Capture | -8% | -3% | -2% | -1% | -1% | -0% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 2 | 2 | 2 | 2 | 2 | 2 |
[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 PLCI | |
|---|---|---|---|---|
| PLCI | -0.1% | 1.7% | -3.94 | - |
| Sector ETF (XLF) | 9.3% | 14.6% | 0.39 | -9.6% |
| Equity (SPY) | 19.4% | 12.8% | 1.11 | -48.6% |
| Gold (GLD) | 20.8% | 29.2% | 0.65 | -24.1% |
| Commodities (DBC) | 45.0% | 20.4% | 1.72 | 20.8% |
| Real Estate (VNQ) | 7.8% | 13.6% | 0.30 | -37.4% |
| Bitcoin (BTCUSD) | -28.1% | 43.9% | -0.63 | -6.1% |
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 PLCI | |
|---|---|---|---|---|
| PLCI | -0.0% | 1.7% | -3.94 | - |
| Sector ETF (XLF) | 10.1% | 18.4% | 0.41 | -9.6% |
| Equity (SPY) | 12.6% | 17.2% | 0.56 | -48.6% |
| Gold (GLD) | 18.8% | 18.8% | 0.81 | -24.1% |
| Commodities (DBC) | 10.6% | 19.5% | 0.42 | 20.8% |
| Real Estate (VNQ) | 1.5% | 18.9% | -0.03 | -37.4% |
| Bitcoin (BTCUSD) | 11.1% | 52.6% | 0.39 | -6.1% |
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 PLCI | |
|---|---|---|---|---|
| PLCI | -0.0% | 1.7% | -3.94 | - |
| Sector ETF (XLF) | 13.4% | 22.1% | 0.55 | -9.6% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | -48.6% |
| Gold (GLD) | 12.2% | 16.3% | 0.61 | -24.1% |
| Commodities (DBC) | 7.9% | 18.1% | 0.36 | 20.8% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | -37.4% |
| Bitcoin (BTCUSD) | 63.6% | 66.2% | 1.03 | -6.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
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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