Market cap of GigCapital3 Inc. [GIK] reaches 360.44M – now what?

GigCapital3 Inc. [NYSE: GIK] price plunged by -5.82 percent to reach at -$0.86. The company report on February 9, 2021 that Lightning eMotors Names New Chief Revenue Officer.

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Industry veteran Kash Sethi joins Lightning to head up business development.

Lightning eMotors (“Lightning eMotors” or the “Company”), a leading provider of commercial electric vehicles for fleets, announced Kash Sethi as its new chief revenue officer. Sethi will join the senior leadership team and lead business development as Lightning eMotors transitions to being a public company via its business combination with GigCapital3, Inc. (“GigCapital3”) (NYSE: GIK).

A sum of 2101418 shares traded at recent session while its average daily volume was at 2.68M shares. GigCapital3 Inc. shares reached a high of $15.10 and dropped to a low of $13.87 until finishing in the latest session at $13.92.

Guru’s Opinion on GigCapital3 Inc. [GIK]:

The Average True Range (ATR) for GigCapital3 Inc. is set at 1.05

GIK Stock Performance Analysis:

GigCapital3 Inc. [GIK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.07. With this latest performance, GIK shares dropped by -15.38% in over the last four-week period, additionally plugging by 40.18% over the last 6 months.

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 GIK stock in for the last two-week period is set at 44.43, with the RSI for the last a single of trading hit 40.32, and the three-weeks RSI is set at 47.66 for GigCapital3 Inc. [GIK]. The present Moving Average for the last 50 days of trading for this stock 14.17, while it was recorded at 14.40 for the last single week of trading.

Insight into GigCapital3 Inc. Fundamentals:

GigCapital3 Inc. [GIK] Insider Position Details

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41 institutional holders increased their position in GigCapital3 Inc. [NYSE:GIK] by around 2,432,998 shares. Additionally, 30 investors decreased positions by around 9,574,712 shares, while 0 investors held positions by with 7,516,396 shares. The mentioned changes placed institutional holdings at 4,491,314 shares, according to the latest SEC report filing. GIK stock had 39 new institutional investments in for a total of 2,326,411 shares, while 17 institutional investors sold positions of 6,816,033 shares during the same period.

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