Fusion Acquisition Corp. [NYSE: FUSE] slipped around -0.61 points on Friday, while shares priced at $11.59 at the close of the session, down -5.00%. The company report on February 13, 2021 that SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Fusion Acquisition Corp. – FUSE.
Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Fusion Acquisition Corp. (“FUSE” or the “Company”) (FUSE) relating to its proposed merger with MoneyLion, Inc. Under the terms of the agreement, FUSE will acquire MoneyLion through a reverse merger, with MoneyLion emerging as a publicly traded company.
The investigation focuses on whether Fusion Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
Compared to the average trading volume of 1.58M shares, FUSE reached a trading volume of 18213720 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Fusion Acquisition Corp. [FUSE]?
The Average True Range (ATR) for Fusion Acquisition Corp. is set at 0.68
How has FUSE stock performed recently?
Fusion Acquisition Corp. [FUSE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.84.
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 FUSE stock in for the last two-week period is set at 48.18, with the RSI for the last a single of trading hit 43.57, and the three-weeks RSI is set at 51.09 for Fusion Acquisition Corp. [FUSE]. The present Moving Average for the last 50 days of trading for this stock 11.19, while it was recorded at 12.02 for the last single week of trading.
Fusion Acquisition Corp. [FUSE]: Deeper insight into the fundamentals
Insider trade positions for Fusion Acquisition Corp. [FUSE]
42 institutional holders increased their position in Fusion Acquisition Corp. [NYSE:FUSE] by around 16,823,536 shares. Additionally, 15 investors decreased positions by around 4,028,555 shares, while 4 investors held positions by with 656,337 shares. The mentioned changes placed institutional holdings at 20,195,754 shares, according to the latest SEC report filing. FUSE stock had 40 new institutional investments in for a total of 15,776,218 shares, while 4 institutional investors sold positions of 1,235,112 shares during the same period.