Aimei Health (AFJK) Surges 22% on Merger Deadline Urgency and Trust Account Depletion

Summary
• Aimei Health (AFJK) surges 22.07% to $13.55, hitting a 52-week high of $14.01
• Trust account value drops 40% to $44.5M amid shareholder redemptions
• Merger with United Hydrogen Group Inc. now faces a December 6, 2025 deadline after 12th extension
• Technical indicators signal oversold conditions (RSI: 22.22) and bearish momentum (MACD: -0.0081)

Aimei Health’s (AFJK) dramatic 22.07% intraday rally has ignited market speculation, driven by a critical merger deadline and a 40% depletion of its trust account. The stock’s surge to $13.55—its highest level since the 52-week high of $14.01—reflects investor urgency as the SPAC races to finalize its business combination with United Hydrogen Group Inc. Technical indicators, however, suggest a volatile path ahead, with oversold RSI levels and bearish MACD divergence signaling potential short-term turbulence.

Merger Deadline Extension and Trust Account Erosion Fuel Volatility
Aimei Health’s (AFJK) 22.07% price surge is directly tied to its 12th and final extension of the business combination deadline to December 6, 2025, funded by a $150,000 unsecured promissory note from its sponsor and United Hydrogen. The trust account, now at $44.5M after a 40% drop from $73.8M due to redemptions, has left the SPAC with only $2,138 in operating cash and a $2.17M working capital deficit. Management’s admission of 'substantial doubt about the ability to continue as a going concern' has intensified investor anxiety, while the lack of effective internal controls raises governance risks. The merger with United Hydrogen—a hydrogen energy company—represents the SPAC’s last chance to avoid liquidation, creating a high-stakes scenario for remaining shareholders.

Healthcare SPACs Face Unique Liquidity Pressures
Technical Analysis and ETF Correlation for AFJK’s High-Volatility Environment
• 200-day MA: $11.12 (below current price) • RSI: 22.22 (oversold) • MACD: -0.0081 (bearish) • Bollinger Bands: $11.21–$11.52 (current price above upper band)

AFJK’s technical profile suggests a volatile setup. The stock has pierced its 52-week high of $14.01, but RSI at 22.22 indicates oversold conditions, while the MACD histogram (-0.0221) and bearish signal line (0.0140) highlight momentum divergence. Key support levels at $11.32 (30D) and $11.14 (200D) could trigger a pullback if the $14.01 high fails to hold. Given the absence of options liquidity and the SPAC’s precarious liquidity, investors should focus on ETFs like XLV (healthcare) or XLE (energy) for sector exposure. A 5% upside scenario to $14.23 would test the 52-week high, but the trust account’s fragility and governance risks make this a high-risk trade.

Backtest Aimei Health Stock Performance
I tried to retrieve AFJK’s historical price data automatically, but the data source returned empty results (most likely because the ticker isn’t available in the public databases we can query). To proceed with a rigorous event-backtest on “+22 % intraday surges,” we need daily OHLC (open, high, low, close) prices from 2022-01-01 to today.Could you please provide one of the following so we can continue?1. A CSV/JSON file (or link) with AFJK’s daily prices, or 2. Confirmation of an alternative ticker / data source we should use.Once we have valid price data, I can identify all dates where the intraday move met or exceeded +22 %, run the event-backtest, and present the performance metrics and visualizations.

AFJK’s Merger or Liquidation: A High-Stakes Countdown
Aimei Health’s (AFJK) 22.07% rally underscores the urgency of its December 6, 2025 merger deadline, but the SPAC’s depleted trust account and governance risks create a precarious outlook. While technical indicators suggest a potential short-term bounce from oversold levels, the fundamental risks—$2.17M working capital deficit, ineffective internal controls, and a 40% trust account erosion—make this a high-volatility, high-risk trade. Investors should monitor the $14.01 52-week high as a critical resistance level and the $11.14 200-day MA for support. For context, Nextera Energy (NEE) rose 0.60% today, highlighting broader market resilience. AFJK’s fate hinges on the success of its United Hydrogen merger, but with only $2,138 in operating cash, the clock is ticking.