Churchill Capital Corp X (NASDAQ:CCCX) Shares Gap Down – Here’s What Happened

Shares of Churchill Capital Corp X (NASDAQ:CCCX) gapped down before the market opened on Monday . The stock had previously closed at $17.52, but opened at $16.28. Churchill Capital Corp X shares last traded at $17.08, with a volume of 511,272 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Churchill Capital Corp X in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Churchill Capital Corp X Trading Down 6.6%

The business has a 50 day moving average of $16.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC acquired a new stake in Churchill Capital Corp X during the third quarter worth approximately $52,000. Wexford Capital LP acquired a new position in shares of Churchill Capital Corp X during the third quarter worth about $64,000. IFP Advisors Inc purchased a new stake in shares of Churchill Capital Corp X during the 3rd quarter worth $122,000. ATW Spac Management LLC acquired a new position in shares of Churchill Capital Corp X during the 3rd quarter worth $129,000. Finally, MGO One Seven LLC acquired a new stake in shares of Churchill Capital Corp X in the third quarter valued at about $129,000.

About Churchill Capital Corp X

Churchill Capital Corp X (NASDAQ: CCCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, formed to raise capital through an initial public offering for the purpose of effecting one or more business combinations. As a SPAC, it initially holds the proceeds from its public offering in a trust account while management and the sponsor identify and negotiate a potential merger, acquisition, or other qualifying business combination that would result in the acquired company becoming publicly listed.

The company’s primary activities are sourcing, evaluating and completing a business combination with a target company.