ACON S2 Acquisition (OTCMKTS:STWOU) Shares Up 8.2% – Still a Buy?

ACON S2 Acquisition Corp. (OTCMKTS:STWOU)’s stock price was up 8.2% on Wednesday . The company traded as high as $8.58 and last traded at $8.48. Approximately 6,700 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 15,569 shares. The stock had previously closed at $7.84.

ACON S2 Acquisition Stock Performance

The stock has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $8.48.

ACON S2 Acquisition Company Profile

ACON S2 Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) whose securities, including its publicly traded warrants under the ticker STWOU, are quoted on the OTC Markets. As a blank‐check vehicle, the company does not engage in commercial operations of its own but was formed to raise capital through an initial public offering with the express purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company is sponsored by a team affiliated with ACON Investments, LLC, a private equity firm with a long‐standing record of investments across the consumer, industrial and financial services sectors.