CIIG Merger Corp. (OTCMKTS:CIICU – Get Free Report)’s stock price traded down 5.1% during mid-day trading on Wednesday. The stock traded as low as $26.00 and last traded at $27.99. 5,100 shares were traded 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 Price Performance
The business has a 50-day simple moving average of $27.99 and a 200 day simple moving average of $27.99.
About CIIG Merger
CIIG Merger Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business. Unlike an operating company, CIIG did not manufacture products or provide ongoing commercial services of its own; its principal activity was raising capital through a public offering and seeking a suitable merger partner.
CIIG announced an agreement to combine with Arrival, a company developing electric commercial vehicles and related production technologies. The transaction was completed in 2021, after which the combined company operated as Arrival and its securities began trading under Arrival-related symbols.
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