Far Peak Acquisition Corporation [NYSE: FPAC] jumped around 0.01 points on Tuesday, while shares priced at $10.21 at the close of the session, up 0.10%. The company report on February 24, 2023 that Far Peak Acquisition Corp. Announces Redemption of Class A Ordinary Shares on Monday, March 13, 2023.
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Far Peak Acquisition Corp. (NYSE: FPAC) (the “Company”) today announced that it will redeem all of its outstanding Class A ordinary shares (the “Class A Shares”), as of March 13, 2023, because the Company will not consummate an initial business combination by March 7, 2023, the time period required by its amended and restated memorandum and articles of association (the “Articles”).
Pursuant to the Articles, if the Company does not consummate an initial business combination by March 7, 2023, the Company will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem its Class A Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account but net of taxes, if any, (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding Class A Shares, redemption of which will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.
Far Peak Acquisition Corporation stock is now 1.69% up from its year-to-date (YTD) trading value. FPAC Stock saw the intraday high of $10.21 and lowest of $10.20 per share. The company’s 52-week high price is 10.20, which means current price is +1.69% from all time high which was touched on 03/07/23.
Compared to the average trading volume of 821.77K shares, FPAC reached a trading volume of 9508266 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Far Peak Acquisition Corporation [FPAC]?
The Average True Range (ATR) for Far Peak Acquisition Corporation is set at 0.02 The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.03. Price to Free Cash Flow for FPAC in the course of the last twelve months was 445.09 with Quick ratio for the last quarter at 0.10.
How has FPAC stock performed recently?
Far Peak Acquisition Corporation [FPAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.29. With this latest performance, FPAC shares gained by 0.59% in over the last four-week period, additionally plugging by 3.44% over the last 6 months – not to mention a rise of 3.13% in the past year of trading.
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 FPAC stock in for the last two-week period is set at 76.22, with the RSI for the last a single of trading hit 78.41, and the three-weeks RSI is set at 74.44 for Far Peak Acquisition Corporation [FPAC]. The present Moving Average for the last 50 days of trading for this stock 10.12, while it was recorded at 10.20 for the last single week of trading, and 9.94 for the last 200 days.
Far Peak Acquisition Corporation [FPAC]: Deeper insight into the fundamentals
Return on Equity for this stock inclined to 9.76, with Return on Assets sitting at 9.08.
Far Peak Acquisition Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
Insider trade positions for Far Peak Acquisition Corporation [FPAC]
38 institutional holders increased their position in Far Peak Acquisition Corporation [NYSE:FPAC] by around 13,184,260 shares. Additionally, 34 investors decreased positions by around 10,771,495 shares, while 35 investors held positions by with 30,862,982 shares. The mentioned changes placed institutional holdings at 54,818,737 shares, according to the latest SEC report filing. FPAC stock had 17 new institutional investments in for a total of 4,803,346 shares, while 19 institutional investors sold positions of 6,191,494 shares during the same period.