Shares of Seaport Global Acquisition Corp. (OTCMKTS:SGAMU – Get Free Report) dropped 27.9% on Friday. The stock traded as low as $10.45 and last traded at $10.45. Approximately 7,500 shares traded hands during trading, a decline of 28% from the average session volume of 10,424 shares. The stock had previously closed at $14.50.
Seaport Global Acquisition Stock Down 27.9%
The business has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $10.45.
About Seaport Global Acquisition
Seaport Global Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to identify and complete a business combination with one or more private companies. Unlike an operating company, it does not have established commercial products or services of its own.
The company’s activities have primarily consisted of raising capital through a public offering, evaluating potential merger or acquisition targets, and seeking shareholder approval for a proposed transaction. Its search has generally been directed toward businesses that may benefit from the experience and relationships of its sponsor and management team, including companies in financial services, technology, healthcare, energy, and related industries.
Seaport Global Acquisition Corp.
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