BIII
Hot AirBlack Spade Acquisition III Co · Financial Services · Hong Kong · $232M cap · $1.3M/day traded
$10.14 +0.0% · close 12 Nov · scored 13 Nov
Score up 15.3 since 12 Nov: Momentum up 28.
Hot Air: Strong momentum and nothing else: weak business, rich price.
As of 13 Nov 2026, the MoatMap Score for Black Spade Acquisition III Co (BIII) is 25/100, ranked against 25,000+ stocks in 38 markets (Quality 27, Value 25, Momentum 60, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT BLACK SPADE ACQUISITION III CO
Read
Black Spade Acquisition III Co is a blank check company (SPAC) established for the purpose of executing a merger, share exchange, or business combination with a target enterprise. Sponsored by Black Spade Capital, the vehicle leverages the sponsor's deep network and investment expertise in the technology, lifestyle, and entertainment sectors, particularly within the Asia-Pacific region. It aims to identify high-growth companies looking to transition to public markets.
FINANCIAL SUMMARY (USD)
| Year | 2025 | TTM |
|---|---|---|
| Revenue | — | — |
| EPS | — | — |
| Shares | 20.8M | 17.3M |
| Debt | 0.1M | — |
| Equity | -61.4K | — |
| Op CF | — | — |
| Inv CF | — | — |
| Fin CF | — | — |
Not enough steady price history for a read yet.
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up: It has climbed off its low and is back above a rising 50-day average.
- In an uptrend: It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet (this stock): Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Financial Services, ranked by industry match, size, and score similarity. Cross-listings of BIII are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| BIII | Black Spade Acquisition III Co(you) | $232M | 25 |
| COPL | Copley Acquisition Corp | $235M | 32 |
| BSAA | BEST SPAC I Acquisition Corp. | $84M | 11 |
| NBRG | Newbridge Acquisition Limited | $76M | 9 |
| EURK | Eureka Acquisition Corp | $58M | 11 |
| 1051.HK | G-Resources Group Limited | $313M | 25 |
| 3329.HK | BOCOM International Holdings Company Limited | $160M | 24 |
| 3848.HK | Haosen Fintech Group Limited | $210M | 32 |
| 0412.HK | Shandong Hi-Speed Holdings Group Limited | $326M | 29 |
| 0222.HK | Min Xin Holdings Limited | $194M | 36 |
Peer medians: ROE 4.0% · P/E 9.7x · Gross margin 81.2%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.