Power & Digital Infrastructure Acquisition (OTCMKTS:XPDIU) Shares Up 1.8% – Time to Buy?

Power & Digital Infrastructure Acquisition Corp. (OTCMKTS:XPDIU) shares rose 1.8% during mid-day trading on Thursday. The stock traded as high as $10.62 and last traded at $10.57. 29,700 shares traded hands during mid-day trading, an increase of 43% from the average daily volume of 20,825 shares. The stock had previously closed at $10.38.

Power & Digital Infrastructure Acquisition Stock Performance

The stock’s 50 day moving average is $10.57 and its 200 day moving average is $10.57.

Power & Digital Infrastructure Acquisition Company Profile

Power & Digital Infrastructure Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business involved in power and digital infrastructure. The company did not conduct substantial independent operating activities or offer products and services of its own before completing a business combination.

The company focused on potential targets in areas such as data centers, digital infrastructure, power generation, and related technology. Its principal transaction was an agreement to combine with Core Scientific, a provider of digital infrastructure and cryptocurrency mining services operating data centers in the United States.

The business combination with Core Scientific was completed in January 2022, after which the combined company operated as Core Scientific, Inc The SPAC was led by Michael Levitt, who subsequently served as Core Scientific’s chief executive officer.