Shares of RF Acquisition Corp II (NASDAQ:RFAIR – Get Free Report) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $0.17 and traded as low as $0.1550. RF Acquisition Corp II shares last traded at $0.16, with a volume of 336,085 shares traded.
RF Acquisition Corp II Stock Down 23.8%
The stock has a fifty day moving average of $0.17 and a 200-day moving average of $0.12.
RF Acquisition Corp II is a blank-check company, also known as a special purpose acquisition company (SPAC). It was formed to pursue a merger, share exchange, asset acquisition, or other business combination with one or more businesses. Unlike an operating company, RF Acquisition Corp II does not offer products or services of its own. Its business is focused on identifying and completing a transaction with a target company; until then, it has no ongoing commercial operations to describe.
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