Shares of PropTech Acquisition Co. (OTCMKTS:PTACU – Get Free Report) dropped 0.2% on Thursday . The company traded as low as $9.97 and last traded at $10.05. Approximately 1,105 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 61,886 shares. The stock had previously closed at $10.07.
PropTech Acquisition Stock Down 0.2%
The company has a 50 day simple moving average of $10.05 and a 200-day simple moving average of $13.04.
PropTech Acquisition Company Profile
PropTech Acquisition is a special-purpose acquisition company (SPAC) incorporated in Delaware and trading on the OTC Markets under the symbol PTACU. The company was formed to raise capital through an initial public offering with the intent to identify, acquire, and merge with one or more businesses in the property technology (“PropTech”) sector. Like many SPACs, it holds assets in a trust account pending completion of a qualifying business combination, offering investors exposure to the PropTech industry without immediate operating revenues.
The SPAC’s primary focus is on companies that leverage technology to improve real estate transactions, property management, construction processes, and other aspects of the residential and commercial property markets.
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