AAC Stock Summary and Trading Ideas (Ares Acquisition Class A | NYSE:AAC)

Ares Acquisition Corp is a blank check company.

Ares Acquisition Class A trades on the NYSE stock market under the symbol AAC.

As of March 27, 2023, AAC stock price was flat at $10.32 with 5,902 million shares trading.

AAC has a beta of 0.02, meaning it tends to be less sensitive to market movements. AAC has a correlation of 0.11 to the broad based SPY ETF.

AAC has a market cap of $1.29 billion. This is considered a Small Cap stock.

AAC has outperformed the market in the last year with a return of +5.4%, while the SPY ETF lost -10.7%. However, in the most recent history, AAC shares have underperformed the stock market with its stock returning +2.5% in the last 3 month period and +1.2% for the last 2 week period, while SPY has returned +3.8% and +3.0%, respectively.

AAC support price is $10.30 and resistance is $10.34 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AAC stock will trade within this expected range on the day.