Seaport Global Acquisition (OTCMKTS:SGAMU) Trading Down 27.9% – Here’s Why

Shares of Seaport Global Acquisition Corp. (OTCMKTS:SGAMU) were down 27.9% on Wednesday . The company traded as low as $10.45 and last traded at $10.45. Approximately 7,500 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 10,424 shares. The stock had previously closed at $14.50.

Seaport Global Acquisition Trading Down 27.9%

The business has a fifty day moving average price of $10.45 and a 200 day moving average price of $10.45.

Seaport Global Acquisition Company Profile

Seaport Global Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect one or more business combinations through the acquisition of or merger with privately held operating companies. As a blank‐check issuer, the company does not conduct operations of its own and seeks to leverage public equity markets to raise capital for its acquisition strategy.

The company completed its initial public offering in mid-2021, offering units that trade under the ticker SGAMU on the OTC Markets.