Shares of Vistas Media Acquisition Company Inc. (OTCMKTS:VMACU – Get Free Report) shot up 11.9% on Thursday. The company traded as high as $14.72 and last traded at $10.69. 20,200 shares changed hands during mid-day trading, an increase of 392% from the average session volume of 4,108 shares. The stock had previously closed at $9.55.
Vistas Media Acquisition Price Performance
The firm has a 50-day simple moving average of $10.69 and a 200-day simple moving average of $10.69.
About Vistas Media Acquisition
Vistas Media Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the media, entertainment, technology, or related sectors. Like other blank-check companies, its primary activity before a merger was raising capital and evaluating potential acquisition targets rather than operating a traditional product or service business.
The company announced a business combination with Anghami, a Middle East and North Africa-focused music streaming platform.
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