Altimeter Growth (OTCMKTS:AGCUU) Shares Down 12.5% – Time to Sell?

Altimeter Growth Corp. (OTCMKTS:AGCUU)’s share price dropped 12.5% during trading on Friday . The company traded as low as $11.87 and last traded at $11.87. Approximately 150,700 shares traded hands during trading, an increase of 51% from the average daily volume of 99,899 shares. The stock had previously closed at $13.56.

Altimeter Growth Stock Down 12.5%

The stock has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $11.87.

Altimeter Growth Company Profile

Altimeter Growth Corp II (OTCMKTS:AGCUU) is a special purpose acquisition company (SPAC) sponsored by Altimeter Capital Management, LLC. Incorporated in Delaware, the firm was established to pursue mergers or acquisitions with privately held businesses, providing investors with an alternative route to public markets. As a blank check company, Altimeter Growth Corp II seeks to identify high-growth companies and partner with management teams to accelerate expansion and value creation.

The company completed its initial public offering in 2021, issuing units that trade under the symbol AGCUU.