Inflection Point Acquisition Corp. (NASDAQ:IPAX – Get Free Report) was down 15.9% on Thursday . The company traded as low as $15.43 and last traded at $15.89. Approximately 26,139,241 shares were traded during trading, an increase of 9,311% from the average daily volume of 277,739 shares. The stock had previously closed at $18.90.
Inflection Point Acquisition Stock Down 15.9%
The company’s fifty day moving average price is $17.97 and its two-hundred day moving average price is $12.96.
About Inflection Point Acquisition
Inflection Point Acquisition Corp. (NASDAQ: IPAX) is a special purpose acquisition company (SPAC) formed in November 2020 with the primary purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, IPAX does not itself conduct operations but seeks to raise capital through its initial public offering and subsequent trust to pursue strategic acquisition opportunities.
The company is sponsored by Inflection Point Advisors, LLC, an investment firm that leverages its deal-sourcing network and industry expertise to identify potential targets.
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