Progress Acquisition Corp. (OTCMKTS:PGRWU – Get Free Report) was down 0.2% during mid-day trading on Friday. The stock traded as low as $10.35 and last traded at $10.35. 3,100 shares changed hands during trading, a decline of 53% from the average daily volume of 6,664 shares. The stock had previously closed at $10.37.
Progress Acquisition Price Performance
The stock’s 50-day moving average is $10.35 and its 200-day moving average is $10.35.
About Progress Acquisition
Progress Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions could have included a merger, stock exchange, asset acquisition, reorganization or similar combination.
Unlike an operating company, Progress Acquisition did not develop, manufacture or sell products and did not provide services to customers. Its activities were primarily related to evaluating potential acquisition targets and completing the SPAC process.
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