CIIG Merger (OTCMKTS:CIICU) Shares Down 5.1% – Here’s Why

CIIG Merger Corp. (OTCMKTS:CIICU) dropped 5.1% during mid-day trading on Friday . The company traded as low as $26.00 and last traded at $27.99. Approximately 5,100 shares traded hands during trading, a decline of 40% from the average daily volume of 8,511 shares. The stock had previously closed at $29.49.

CIIG Merger Stock Down 5.1%

The company’s fifty day moving average price is $27.99 and its two-hundred day moving average price is $27.99.

CIIG Merger Company Profile

CIIG Merger Corp is a Delaware‐incorporated special purpose acquisition company (SPAC) that trades on the OTC Markets under the symbol CIICU. Founded with the principal objective of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with businesses in the Asia‐Pacific region, the company seeks to leverage its blank‐check structure to identify high‐growth opportunities in technology-enabled industries.

The company’s investment focus centers on sectors such as digital infrastructure, the broader digital economy, advanced manufacturing, healthcare innovation and consumer technology.