Shares of Pathfinder Acquisition Co. (OTCMKTS:PFDRU – Get Free Report) were down 23.6% on Friday. The company traded as low as $7.78 and last traded at $7.95. Approximately 5,000 shares traded hands during trading, a decline of 43% from the average daily volume of 8,807 shares. The stock had previously closed at $10.41.
Pathfinder Acquisition Trading Down 23.6%
The firm’s fifty day moving average is $7.95 and its 200 day moving average is $7.95.
About Pathfinder Acquisition
Pathfinder Acquisition Corporation was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike a traditional operating business, Pathfinder did not develop or sell products or services of its own while it pursued a merger or similar transaction.
Pathfinder entered into a business combination agreement with Movella Holdings, Inc, a developer of motion-capture and sensor technologies. Movella’s products are designed to capture and analyze human movement for applications including industrial, healthcare, sports and entertainment uses.
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