Rodgers Silicon Valley Acquisition Corp. [NASDAQ: RSVA] price surged by 25.28 percent to reach at $3.87. The company report on February 23, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Rodgers Silicon Valley Acquisition Corp. (NASDAQ:RSVA).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Rodgers Silicon Valley Acquisition Corp. (“RSVA” or the “Company”) (NASDAQ:RSVA) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which RSVA, a special purpose acquisition company, will combine with Enovix Corporation (“Enovix”), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, and result in Enovix becoming a publicly-listed company. Under the terms of the agreement, RSVA shareholders will retain ownership of only 16% of the combined company.
The investigation concerns whether the RSVA 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 1090233 shares traded at recent session while its average daily volume was at 736.09K shares. Rodgers Silicon Valley Acquisition Corp. shares reached a high of $19.26 and dropped to a low of $15.8264 until finishing in the latest session at $19.18.
Guru’s Opinion on Rodgers Silicon Valley Acquisition Corp. [RSVA]:
The Average True Range (ATR) for Rodgers Silicon Valley Acquisition Corp. is set at 2.46
RSVA Stock Performance Analysis:
Rodgers Silicon Valley Acquisition Corp. [RSVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.79.
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 RSVA stock in for the last two-week period is set at 60.26, with the RSI for the last a single of trading hit 59.72, and the three-weeks RSI is set at 60.31 for Rodgers Silicon Valley Acquisition Corp. [RSVA], while it was recorded at 18.29 for the last single week of trading.