Reinvent Technology Partners [NYSE: RTP] price surged by 4.02 percent to reach at $0.52. The company report on February 25, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Reinvent Technology Partners (NYSE – RTP).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Reinvent Technology Partners (“RTP” or the “Company”) (NYSE:RTP) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which RTP, a special purpose acquisition company, will combine with Joby Aviation (“Joby”), a California headquartered transportation company developing an all-electric vertical takeoff and landing aircraft which it intends to operate as a fast, quiet, and affordable air taxi service beginning in 2024, and result in Joby becoming a publicly-listed company. Under the terms of the agreement, RTP shareholders will retain ownership of only 10% of the combined company.
The investigation concerns whether the RTP Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
A sum of 24843552 shares traded at recent session while its average daily volume was at 1.05M shares. Reinvent Technology Partners shares reached a high of $14.2265 and dropped to a low of $12.80 until finishing in the latest session at $13.46.
Guru’s Opinion on Reinvent Technology Partners [RTP]:
The Average True Range (ATR) for Reinvent Technology Partners is set at 1.05
RTP Stock Performance Analysis:
Reinvent Technology Partners [RTP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.20.
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 RTP stock in for the last two-week period is set at 49.73, with the RSI for the last a single of trading hit 45.66, and the three-weeks RSI is set at 52.16 for Reinvent Technology Partners [RTP]. The present Moving Average for the last 50 days of trading for this stock 12.58, while it was recorded at 14.22 for the last single week of trading.
Insight into Reinvent Technology Partners Fundamentals:
Reinvent Technology Partners [RTP] Insider Position Details
56 institutional holders increased their position in Reinvent Technology Partners [NYSE:RTP] by around 29,928,654 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 29,928,654 shares, according to the latest SEC report filing. RTP stock had 56 new institutional investments in for a total of 29,928,654 shares, while 0 institutional investors sold positions of 0 shares during the same period.