Launch One Acquisition Corp. (NASDAQ:LPAA – Get Free Report)’s stock price shot up 0.4% during mid-day trading on Friday. The company traded as high as $10.76 and last traded at $10.80. Approximately 780 shares traded hands during trading, an increase of 304% from the average session volume of 193 shares. The stock had previously closed at $10.76.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered Launch One Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Launch One Acquisition currently has an average rating of “Sell”.
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Launch One Acquisition Stock Performance
Hedge Funds Weigh In On Launch One Acquisition
A hedge fund recently raised its position in Launch One Acquisition stock. Berkley W R Corp increased its holdings in Launch One Acquisition Corp. (NASDAQ:LPAA – Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,487,125 shares of the company’s stock after buying an additional 63,835 shares during the quarter. Launch One Acquisition comprises 0.9% of Berkley W R Corp’s portfolio, making the stock its 23rd largest holding. Berkley W R Corp owned about 5.17% of Launch One Acquisition worth $15,927,000 as of its most recent SEC filing.
About Launch One Acquisition
Launch One Acquisition Corp. (NASDAQ: LPAA) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its activities center on evaluating potential merger, acquisition, or similar transactions rather than developing or selling products and services of its own.
Like other SPACs, Launch One Acquisition Corp. may use the proceeds from its public offering, together with other available funding, to pursue a target company.
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