Alight, Inc. (ALIT) is a leading cloud services provider of integrated human capital and business solutions. The company operates in three segments: Employer Solutions; Professional Services; and Hosted Business. It is a subsidiary of the alternative investment management company The Blackstone Group, Inc. (BX).
ALIT went public through a reverse merger with institutional investor Bill Foley-backed blank check company Foley Trasimene Acquisition Corp. on July 6, 2021. However, the stock declined 27.7% since then to close Friday’s trading session at $7.53. Also, the stock fell 30.7% year-to-date due to the extended market correction and bleak growth prospects.
