Shares of ESGEN Acquisition Co. (NASDAQ:ESAC – Get Free Report) dropped 15.1% during mid-day trading on Tuesday . The company traded as low as $0.2367 and last traded at $0.2377. 490,674 shares were traded during mid-day trading, an increase of 791% from the average session volume of 55,041 shares. The stock had previously closed at $0.28.
ESGEN Acquisition Stock Performance
The stock has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.75.
About ESGEN Acquisition
ESGEN Acquisition (NASDAQ: ESAC) is a Delaware‐incorporated special purpose acquisition company (SPAC) formed in 2021 to effect a business combination with one or more operating businesses. As a blank‐check vehicle, ESGEN Acquisition itself carries no commercial operations; its primary objective is to identify and merge with a target company that can benefit from public‐market access and strategic capital.
Through its initial public offering, ESGEN Acquisition raised capital by issuing units consisting of common shares and warrants.
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