Market cap of Ascendant Digital Acquisition Corp. [ACND] reaches 410.69M – now what?

Ascendant Digital Acquisition Corp. [NYSE: ACND] loss -6.33% or -0.67 points to close at $9.92 with a heavy trading volume of 13562473 shares. The company report on March 3, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Ascendant Digital Acquisition Corp. (NYSE:ACND).

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Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ascendant Digital Acquisition Corp. (“Ascendant” or the “Company”) (NYSE:ACND) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Ascendant, a special purpose acquisition company, will combine with Beacon Street Group, LLC (“Beacon Street”), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, and result in Beacon Street becoming a publicly-listed company. Under the terms of the agreement, Ascendant shareholders will retain ownership of only 13% of the combined company.

The investigation concerns whether the Ascendant Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

If we look at the average trading volume of 126.04K shares, ACND reached to a volume of 13562473 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ascendant Digital Acquisition Corp. [ACND]:

The Average True Range (ATR) for Ascendant Digital Acquisition Corp. is set at 0.33

Trading performance analysis for ACND stock

Ascendant Digital Acquisition Corp. [ACND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.29.

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 ACND stock in for the last two-week period is set at 32.10, with the RSI for the last a single of trading hit 26.13, and the three-weeks RSI is set at 36.66 for Ascendant Digital Acquisition Corp. [ACND]. The present Moving Average for the last 50 days of trading for this stock 10.54, while it was recorded at 10.46 for the last single week of trading.

Ascendant Digital Acquisition Corp. [ACND]: A deeper dive into fundamental analysis

An analysis of insider ownership at Ascendant Digital Acquisition Corp. [ACND]

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41 institutional holders increased their position in Ascendant Digital Acquisition Corp. [NYSE:ACND] by around 9,802,625 shares. Additionally, 6 investors decreased positions by around 1,509,375 shares, while 11 investors held positions by with 13,427,079 shares. The mentioned changes placed institutional holdings at 24,739,079 shares, according to the latest SEC report filing. ACND stock had 31 new institutional investments in for a total of 6,100,956 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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