Forest Road Acquisition Corp. [NYSE: FRX] stock went on an upward path that rose over 9.87% on Thursday, amounting to a one-week price increase of more than 4.97%. The company report on February 13, 2021 that SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Forest Road Acquisition Corp. – FRX.
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 Forest Road Acquisition Corp. (“FRX” or the “Company”) (FRX) relating to its proposed merger with The Beachbody Company Group, LLC. Under the terms of the agreement, FRX will acquire Beachbody through a reverse merger, with Beachbody emerging as a publicly traded company.
The investigation focuses on whether Forest Road 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.
The market cap for the stock reached $367.50 million, with 30.00 million shares outstanding. Compared to the average trading volume of 1.27M shares, FRX stock reached a trading volume of 7525275 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Forest Road Acquisition Corp. [FRX]:
The Average True Range (ATR) for Forest Road Acquisition Corp. is set at 0.59
FRX Stock Performance Analysis:
Forest Road Acquisition Corp. [FRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.97.
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 the last a single of trading hit 68.96, and the three-weeks RSI is set at 65.34 for Forest Road Acquisition Corp. [FRX], while it was recorded at 11.56 for the last single week of trading.