Forest Road Acquisition Corp. [NYSE: FRX] jumped around 0.73 points on Friday, while shares priced at $11.89 at the close of the session, up 6.54%. 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.
Compared to the average trading volume of 3.39M shares, FRX reached a trading volume of 4822846 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Forest Road Acquisition Corp. [FRX]?
The Average True Range (ATR) for Forest Road Acquisition Corp. is set at 1.42
How has FRX stock performed recently?
Forest Road Acquisition Corp. [FRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.16.
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 FRX stock in for the last two-week period is set at 50.25, with the RSI for the last a single of trading hit 48.07, and the three-weeks RSI is set at 51.97 for Forest Road Acquisition Corp. [FRX], while it was recorded at 11.83 for the last single week of trading.