Is PNAQ halal?
Pinnacle Acquisition Corporatio
Not halal
Pinnacle Acquisition Corporatio did not pass AAOIFI screening. The failed check is shown below.
Checked: 10 October 2026
Exchange
NYSE
Price
9.84
Day
+0.00%
Market cap
$248.5M
Industry
Shell Companies
Sector
Financial Services
What the company does
Pinnacle Acquisition is a SPAC (blank-check company): no operations; it raised $200M on the NYSE in August 2026 to merge with a commercial or consumer finance business. It is led by former ECN Capital CEO Steven Hudson. The cash sits in trust; no target announced yet.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Shell Companies
Interest-bearing debt / market cap
limit 30%
—
No data
Cash & investments / market cap
limit 30%
—
No data
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.