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A humanoid unveiled today, on sale end of 2027 — the ticker in between is a cash shell
Agility Robotics unveiled its new humanoid this morning. Digit 5 lifts fifty pounds, reaches over seven feet, and recharges in nine minutes. Early customers get one in the first half of next year. Everyone else waits until the end of 2027.
You cannot buy Agility. It is private. What trades instead is Churchill Capital Corp XI, a blank-check company that sold units at ten dollars last December and has no operations at all — just a trust account and a signed agreement to become Agility before this year is out. That agreement is the whole company. On the strength of it the shell ran to nearly twenty dollars over the summer, and it has handed most of that back since.
Agility's own filing puts last year's net sales at $1.8 million. The merger values it at $2.5 billion.
Two weeks ago Google signed a 396-megawatt power purchase agreement with Fervo Energy for a geothermal project in Utah. Fervo jumped on the news, then drifted to within a dollar of its 52-week low. It listed in May, and it booked $113,000 of revenue last quarter.
Neither story has been contradicted since. Google's signature is real, the robot exists, the orders are on the books. What moved is the price of waiting, and it has been falling while the news improves.
Is there a route in Korea or Japan for a company to list before it earns anything? If there is, what does the exchange ask for in place of earnings, and does anyone think it works?
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