Spring Valley Acquisition (OTCMKTS:SVSVU) Stock Jumps 1.4% – Here’s What Happened

Spring Valley Acquisition Corp. (OTCMKTS:SVSVU) rose 1.4% on Tuesday. The company traded as high as $11.25 and last traded at $11.15. Approximately 2,900 shares traded hands during trading, a decline of 48% from the average daily volume of 5,602 shares. The stock had previously closed at $11.00.

Spring Valley Acquisition Price Performance

The firm’s fifty day moving average is $11.15 and its 200-day moving average is $11.15.

Spring Valley Acquisition Company Profile

Spring Valley Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike a traditional operating business, it did not manufacture products or provide services directly; its principal activities involved evaluating potential acquisition targets, negotiating a transaction and seeking shareholder approval.

The company operated as a publicly traded acquisition vehicle under the Spring Valley name and focused on finding a suitable merger or similar business combination.