BowX Acquisition Corp. [NASDAQ: BOWXU] traded at a high on 03/26/21, posting a 23.61 gain after which it closed the day’ session at $12.33. The company report on March 27, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of BowX Acquisition Corp. (NASDAQ:BOWX).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of BowX Acquisition Corp. (“BowX” or the “Company”) (NASDAQ:BOWX) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which BowX, a special purpose acquisition company, will combine with WeWork, a leading flexible space provider, and result in WeWork becoming a publicly-listed company. Under the terms of the agreement, BowX shareholders will retain ownership of only 6.1% of the combined company.
The investigation concerns whether the BowX Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
The results of the trading session contributed to over 1066599 shares changing hands. Over the past one week, the price volatility of BowX Acquisition Corp. stands at 6.31% while the volatility over the past one month is 3.01%.
Compared to the average trading volume of 67.46K shares, BOWXU reached a trading volume of 1066599 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about BowX Acquisition Corp. [BOWXU]?
The Average True Range (ATR) for BowX Acquisition Corp. is set at 0.46
How has BOWXU stock performed recently?
BowX Acquisition Corp. [BOWXU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.76. With this latest performance, BOWXU shares gained by 11.08% in over the last four-week period, additionally plugging by 19.02% 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 BOWXU stock in for the last two-week period is set at 69.79, with the RSI for the last a single of trading hit 75.56, and the three-weeks RSI is set at 65.81 for BowX Acquisition Corp. [BOWXU]. The present Moving Average for the last 50 days of trading for this stock 11.06, while it was recorded at 10.68 for the last single week of trading.
BowX Acquisition Corp. [BOWXU]: Deeper insight into the fundamentals
Insider trade positions for BowX Acquisition Corp. [BOWXU]
22 institutional holders increased their position in BowX Acquisition Corp. [NASDAQ:BOWXU] by around 3,236,919 shares. Additionally, 56 investors decreased positions by around 22,323,403 shares, while 9 investors held positions by with 99,181 shares. The mentioned changes placed institutional holdings at 25,461,141 shares, according to the latest SEC report filing. BOWXU stock had 12 new institutional investments in for a total of 1,089,438 shares, while 37 institutional investors sold positions of 15,507,920 shares during the same period.