Atlas Crest Investment Corp. [NYSE: ACIC] surged by $1.96 during the normal trading session on Wednesday and reaching a high of $16.50 during the day while it closed the day at $16.10. The company report on February 11, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Atlas Crest Investment Corp. (NYSE:ACIC).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors ofAtlas Crest Investment Corp. (“Atlas Crest” or the “Company”) (NYSE:ACIC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Atlas Crest, a special purpose acquisition company, will combine with Archer, a leader in the Urban Air Mobility space commercializing electric vertical takeoff and landing aircraft, and result in Archer becoming a publicly-listed company. Under the terms of the agreement, Atlas Crest shareholders will retain ownership of only 13% of the combined company.
The investigation concerns whether the Atlas Crest Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
The market cap for ACIC stock reached $805.00 million, with 50.00 million shares outstanding. Compared to the average trading volume of 1.85M shares, ACIC reached a trading volume of 14842797 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Atlas Crest Investment Corp. [ACIC]:
The Average True Range (ATR) for Atlas Crest Investment Corp. is set at 0.87
ACIC stock trade performance evaluation
Atlas Crest Investment Corp. [ACIC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 43.24.
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 ACIC stock in for the last two-week period is set at 87.03, with the RSI for the last a single of trading hit 88.87, and the three-weeks RSI is set at 85.34 for Atlas Crest Investment Corp. [ACIC], while it was recorded at 14.31 for the last single week of trading.
Atlas Crest Investment Corp. [ACIC]: An insightful look at the core fundamentals
Atlas Crest Investment Corp. [ACIC]: Insider Ownership positions
20 institutional holders increased their position in Atlas Crest Investment Corp. [NYSE:ACIC] by around 12,232,360 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 12,232,360 shares, according to the latest SEC report filing. ACIC stock had 20 new institutional investments in for a total of 12,232,360 shares, while 0 institutional investors sold positions of 0 shares during the same period.