ITHAX Acquisition Corp III (NASDAQ:ITHA) Trading Down 0.8% – Here’s What Happened

ITHAX Acquisition Corp III (NASDAQ:ITHA)’s stock price dropped 0.8% during trading on Monday . The stock traded as low as $10.03 and last traded at $10.01. Approximately 1,006 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,340 shares. The stock had previously closed at $10.09.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded ITHAX Acquisition Corp III from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

ITHAX Acquisition Corp III Trading Down 0.8%

The stock has a 50-day moving average price of $9.99.

About ITHAX Acquisition Corp III

ITHAX Acquisition Corp III (NASDAQ: ITHA) is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank?check company, its primary purpose is to raise capital through a public offering and use the proceeds to identify, negotiate and complete a business combination with one or more operating companies. Like other SPACs, it does not conduct traditional operating activities prior to a qualifying merger.

The company’s core activities include sourcing potential target companies, conducting due diligence, structuring a merger or acquisition and securing shareholder approval for a proposed business combination.