Shares of Moringa Acquisition Corp (OTCMKTS:MACAU – Get Free Report) were down 17.5% on Thursday . The company traded as low as $9.90 and last traded at $9.90. Approximately 4,700 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 3,581 shares. The stock had previously closed at $12.00.
Moringa Acquisition Stock Performance
The company’s 50-day moving average price is $9.90 and its 200 day moving average price is $9.90.
Moringa Acquisition Company Profile
Moringa Acquisition Corporation is a special purpose acquisition company (SPAC) formed to effect a merger, share exchange, asset acquisition or similar business combination with one or more operating businesses. Incorporated in Delaware and trading on the OTC Markets under the ticker MACAU, the company was sponsored by affiliates of Moringa Partners, a private equity firm focused on growth investments.
The SPAC has been structured to identify potential targets across sectors that include technology, consumer, fintech and industrial services.
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