Falcon Capital Acquisition Corp. (OTCMKTS:FCACU – Get Free Report) shares fell 7% during trading on Thursday. The company traded as low as $9.35 and last traded at $9.55. 7,500 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 71,200 shares. The stock had previously closed at $10.27.
Falcon Capital Acquisition Stock Down 7.0%
The company has a 50 day moving average of $9.55 and a 200-day moving average of $9.55.
Falcon Capital Acquisition Company Profile
Falcon Capital Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business through a merger, acquisition, or similar transaction. Unlike an operating company, it did not have an established portfolio of products or services of its own.
The company raised capital through a public offering of units, which generally consisted of common stock and warrants, and placed the proceeds into a trust account while it evaluated potential business combination targets.
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