HCM IV Acquisition Corp (NASDAQ:HACQU – Get Free Report) shares shot up 0.4% on Friday . The stock traded as high as $10.17 and last traded at $10.2090. Approximately 3,000 shares were traded during trading, a decline of 89% from the average daily volume of 26,103 shares. The stock had previously closed at $10.17.
HCM IV Acquisition Stock Up 0.4%
The business’s 50 day simple moving average is $10.11.
About HCM IV Acquisition
HCM IV Acquisition (NASDAQ: HACQU) is a special purpose acquisition company (SPAC), commonly known as a blank-check company, whose principal purpose is to raise capital through a public offering and use the proceeds to effect a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. The company’s units trade on the Nasdaq, and like many SPACs the units are structured to include public shares and associated warrants or rights that become separate securities upon listing or after a short holding period.
As a SPAC, HCM IV Acquisition does not operate an ongoing commercial business prior to completing a business combination.
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