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      ALLG Spikes in the Pre-Market – Stock Irregularity or Expected Growth? - Stocks Telegraph

      By Wasim Omar

      Published on

      March 23, 2022

      9:43 AM UTC

      ALLG Spikes in the Pre-Market – Stock Irregularity or Expected Growth? - Stocks Telegraph

      Allego N.V. (NYSE: ALLG) has been going through some highly irregular movements this month, followed by today’s premarket growth spurt. Following a slow day with a 4.3% downward movement, ALLG shot up 53% in the aftermarket hours, later stabilizing at a 30.3% gain into the premarket. The Dutch capital market company is a key player in the electronic vehicle market. Allego NV specifically focuses on the development of global charge point networks. The company’s market scope focuses on European markets where the green movement has spurred demand for an EV ecosystem. ALLG’s last week stock movement has been triggered by a recent announcement by the management, instilling confidence amongst market participants.

      ALLG Movement Irregularity

      Looking at the trajectory in the past six months points to a highly irregular pattern which has market participants guessing what the current shift indicates. In fact, the stock has stayed relatively stable from October 2018 to June 2020. This was then followed by a sharp 63% climb and a subsequent freefall tumble by 47%. The next year saw little movement, until Friday’s 38% tumble, and then a 60% climb.

      These abrupt swings following years of inactivity point to a low volume for ALLG stock, which potentially indicates liquidity risk. However, ordinary shares for ALLG began trading last week, which explains the stock trajectory. Volatility has understandably risen, following the move, which would lead to a more ‘normal’ stock pattern, defined by sufficient volatility.

      Allego Business Merger with Spartan Acquisition Corp

      Last week’s tumble and subsequent shoot-up relate to a recent announcement regarding a business combination with Spartan Acquisition Corp. The collective strategy is to work towards a pan-European EV continental charging station network. The news has clearly created a frenzy for the now trading ALLG stock, which still remains relatively unknown. Why the stock has been shooting up in the present time, remains unclear. Social media scatter seems to indicate a classic pump and dump strategy may be underway. However, the promise of growth following the business combination may substantiate this sudden growth.


      Following irregular stock movements since 2018, ALLG is currently undergoing a premarket spike. Since trading public last week, its liquidity is likely to enhance. The market hype could potentially link to a recent business merger with Spartan Acquisition Corp which promises significant growth potential. However, social media scatter seems to suggest a classic pump and dump may be underway.

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