Gigcapital8 Corp. (NASDAQ:GIWWR – Get Free Report) shares fell 11.1% during mid-day trading on Thursday . The stock traded as low as $0.2293 and last traded at $0.2666. Approximately 2,801 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 31,665 shares. The stock had previously closed at $0.30.
Gigcapital8 Stock Performance
The company’s 50-day moving average price is $0.28 and its 200-day moving average price is $0.30.
Gigcapital8 Company Profile
GigCapital8 (NASDAQ: GIWWR) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition or other business combination with one or more businesses. As a blank?check vehicle, GigCapital8 does not operate an ongoing commercial business prior to completing a qualifying business combination; its principal activity is identifying and negotiating a combination with a target company that will permit the combined entity to become publicly listed.
Like other SPACs, GigCapital8 holds the proceeds of its offering in a trust account invested in cash and cash equivalents or short?term government instruments until a business combination is completed or the trust is liquidated.
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