Virgin Group Acquisition Corp. II (NYSE:VGII) Stock Price Down 0.7% – Should You Sell?

Virgin Group Acquisition Corp. II (NYSE:VGII) traded down 0.7% during trading on Thursday . The stock traded as low as $1.44 and last traded at $1.48. 53,203 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 141,126 shares. The stock had previously closed at $1.49.

Virgin Group Acquisition Corp. II Stock Performance

The firm’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $1.40.

Virgin Group Acquisition Corp. II Company Profile

Virgin Group Acquisition Corp. II is a publicly traded special purpose acquisition company (SPAC) sponsored by the Virgin Group and its affiliates. Incorporated in Delaware, the company launched its initial public offering in 2021 and is listed on the New York Stock Exchange under the ticker VGII. As a blank‐check vehicle, its primary objective is to identify and merge with a privately held business, thereby taking that company public through a deSPAC transaction.

The company targets businesses operating in the digital economy, consumer, media, entertainment and technology sectors.