Tortoise Acquisition Corp. II [NYSE: SNPR] gained 33.64% or 4.34 points to close at $17.24 with a heavy trading volume of 20083459 shares. The company report on February 9, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Tortoise Acquisition Corp. II (NYSE – SNPR).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Tortoise Acquisition Corp. II (“Tortoise” or the “Company”) (NYSE:SNPR) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Tortoise, a special purpose acquisition company, will combine with Volta Industries, Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, and result in Volta becoming a publicly-listed company. Under the terms of the agreement, Tortoise shareholders will retain ownership of only 17% of the combined company.
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The investigation concerns whether the Tortoise Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
If we look at the average trading volume of 536.24K shares, SNPR reached to a volume of 20083459 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Tortoise Acquisition Corp. II [SNPR]:
The Average True Range (ATR) for Tortoise Acquisition Corp. II is set at 0.99
Trading performance analysis for SNPR stock
Tortoise Acquisition Corp. II [SNPR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.15.
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 SNPR stock in for the last two-week period is set at 83.51, with the RSI for the last a single of trading hit 87.83, and the three-weeks RSI is set at 80.75 for Tortoise Acquisition Corp. II [SNPR]. The present Moving Average for the last 50 days of trading for this stock 11.48, while it was recorded at 13.51 for the last single week of trading.
Tortoise Acquisition Corp. II [SNPR]: A deeper dive into fundamental analysis
An analysis of insider ownership at Tortoise Acquisition Corp. II [SNPR]
5 institutional holders increased their position in Tortoise Acquisition Corp. II [NYSE:SNPR] by around 149,940 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 149,940 shares, according to the latest SEC report filing. SNPR stock had 5 new institutional investments in for a total of 149,940 shares, while 0 institutional investors sold positions of 0 shares during the same period.