Seaport Global Acquisition (OTCMKTS:SGAMU) Shares Down 27.9% – What’s Next?

Shares of Seaport Global Acquisition Corp. (OTCMKTS:SGAMU) fell 27.9% on Wednesday . The stock traded as low as $10.45 and last traded at $10.45. 7,500 shares were traded during trading, a decline of 28% from the average session volume of 10,424 shares. The stock had previously closed at $14.50.

Seaport Global Acquisition Price Performance

The stock’s 50-day moving average price is $10.45 and its 200-day moving average price is $10.45.

Seaport Global Acquisition Company Profile

Seaport Global Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect one or more business combinations through the acquisition of or merger with privately held operating companies. As a blank?check issuer, the company does not conduct operations of its own and seeks to leverage public equity markets to raise capital for its acquisition strategy.

The company completed its initial public offering in mid-2021, offering units that trade under the ticker SGAMU on the OTC Markets.