Forum Merger III (OTCMKTS:FIIIU) Shares Up 2.9% – Should You Buy?

Forum Merger III Co. (OTCMKTS:FIIIU) shot up 2.9% during mid-day trading on Friday . The company traded as high as $11.40 and last traded at $11.11. 2,400 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 13,006 shares. The stock had previously closed at $10.80.

Forum Merger III Price Performance

The company’s 50 day simple moving average is $11.11 and its two-hundred day simple moving average is $11.11.

Forum Merger III Company Profile

Forum Merger III Corp is a special purpose acquisition company (SPAC) incorporated in Delaware and trading on the OTC Markets under the symbol FIIIU. As a blank-check vehicle, its principal activity is raising capital through the sale of units in an initial public offering and seeking to complete a business combination with one or more operating businesses.

Upon closing its public offering, the company’s net proceeds were placed in a trust account to be used for an acquisition, subject to shareholder approval and the timeframe specified in its charter.