Wednesday, December 2, 2020

Fortress Value Acquisition Corp. [FVAC] gain 12.30% so far this year. What now?

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Fortress Value Acquisition Corp. [NYSE: FVAC] stock went on a downward path that fall over -8.03% on Wednesday, amounting to a one-week price decrease of less than -18.03%. The company report on October 27, 2020 that Fortress Value Acquisition Corp. and MP Materials Announce Effectiveness of Registration Statement for Proposed Business Combination.

Special Stockholder Meeting Scheduled for Friday, November 13th, 2020.


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Fortress Value Acquisition Corp. (“FVAC”) (NYSE: FVAC), a special purpose acquisition company sponsored by an affiliate of Fortress Investment Group LLC (“Fortress”), today announced that the U.S. Securities and Exchange Commission (“SEC”) has declared effective the registration statement on Form S-4 (File No. 333-248433) (as amended to the date hereof, the “Registration Statement”), which includes a proxy statement/consent solicitation/prospectus in connection with its special meeting of stockholders to consider the previously announced business combination (the “Business Combination”) with MP Materials (“MP Materials”). MP Materials is the owner and operator of Mountain Pass, the only rare earth mining and processing site of scale in North America. FVAC has commenced mailing the definitive proxy statement/consent solicitation/prospectus relating to the special meeting, which will be held on Friday, November 13, 2020. The proxy statement/consent solicitation/prospectus is being mailed to FVAC’s stockholders of record as of the close of business on October 12, 2020 (the “Record Date”). Should the Business Combination be approved by stockholders, FVAC and MP Materials anticipate closing the Business Combination the week of November 16, 2020, subject to satisfaction or waiver of customary closing conditions.

The market cap for the stock reached $387.43 million, with 34.50 million shares outstanding. Compared to the average trading volume of 1.06M shares, FVAC stock reached a trading volume of 1846146 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Fortress Value Acquisition Corp. [FVAC]:

The Average True Range (ATR) for Fortress Value Acquisition Corp. is set at 0.86

FVAC Stock Performance Analysis:

Fortress Value Acquisition Corp. [FVAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.03.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FVAC stock in for the last two-week period is set at 27.88, with the RSI for the last a single of trading hit 18.22, and the three-weeks RSI is set at 33.85 for Fortress Value Acquisition Corp. [FVAC]. The present Moving Average for the last 50 days of trading for this stock 13.70, while it was recorded at 12.60 for the last single week of trading.

Insight into Fortress Value Acquisition Corp. Fundamentals:

Fortress Value Acquisition Corp. [FVAC] Insider Position Details

32 institutional holders increased their position in Fortress Value Acquisition Corp. [NYSE:FVAC] by around 10,048,732 shares. Additionally, 1 investors decreased positions by around 985,000 shares, while 0 investors held positions by with 970,001 shares. The mentioned changes placed institutional holdings at 10,063,731 shares, according to the latest SEC report filing. FVAC stock had 32 new institutional investments in for a total of 10,048,732 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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