FG New America Acquisition Corp. [NYSE: FGNA] stock went on an upward path that rose over 5.61% on Wednesday, amounting to a one-week price increase of more than 3.20%. The company report on February 11, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of FG New America Acquisition Corp. (NYSE:FGNA).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of FG New America Acquisition Corp. (“FG New America” or the “Company”) (NYSE:FGNA) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which FG New America, a special purpose acquisition company, will combine with Opportunity Financial, LLC (“OppFi”), a leading financial technology platform that serves the everyday consumer, and result in OppFi becoming a publicly-listed company. Under the terms of the agreement, FG New America shareholders will retain ownership of only 30% of the combined company.
The investigation concerns whether the FG New America Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Compared to the average trading volume of 269.12K shares, FGNA stock reached a trading volume of 13699060 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on FG New America Acquisition Corp. [FGNA]:
The Average True Range (ATR) for FG New America Acquisition Corp. is set at 0.28
FGNA Stock Performance Analysis:
FG New America Acquisition Corp. [FGNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.20.
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 FGNA stock in for the last two-week period is set at 67.96, with the RSI for the last a single of trading hit 69.29, and the three-weeks RSI is set at 67.66 for FG New America Acquisition Corp. [FGNA]. The present Moving Average for the last 50 days of trading for this stock 10.41, while it was recorded at 10.95 for the last single week of trading.
Insight into FG New America Acquisition Corp. Fundamentals:
FG New America Acquisition Corp. [FGNA] Insider Position Details
4 institutional holders increased their position in FG New America Acquisition Corp. [NYSE:FGNA] by around 932,100 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 932,100 shares, according to the latest SEC report filing. FGNA stock had 4 new institutional investments in for a total of 932,100 shares, while 0 institutional investors sold positions of 0 shares during the same period.