Shares of GX Acquisition Corp. (OTCMKTS:GXGXU – Get Free Report) rose 36.5% during mid-day trading on Monday. The stock traded as high as $14.00 and last traded at $11.63. 16,100 shares changed hands during trading, an increase of 148% from the average session volume of 6,479 shares. The stock had previously closed at $8.52.
GX Acquisition Price Performance
The firm has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $11.63.
About GX Acquisition
GX Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions could have included a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.
Unlike an operating company, GX Acquisition Corp. did not primarily sell products or services to customers. Its activities centered on raising capital through a public offering, evaluating acquisition opportunities and seeking shareholder approval for a proposed transaction.
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