SHLL - Why Tortoise Acquisition Stock Is Rising Today
Shares of Tortoise Acquisition (NYSE: SHLL) were moving higher on Monday. The special purpose acquisition company released second-quarter financial information for electric-truck powertrain maker Hyliion, the company it plans to merge with later this year, in a regulatory filing after the market closed on Friday.
As of 11:30 a.m. EDT, Tortoise's shares were up about 10.1% from Friday's closing price.
In a filing with the Securities and Exchange Commission (SEC) on Friday afternoon, Tortoise released key numbers from Hyliion's first-half financial results, which we can use (together with an earlier filing that included first-quarter financial information) to understand how Hyliion performed in the second quarter.