Newbury Street Acquisition Co. (NASDAQ:NBST – Get Free Report) traded down 22.9% during mid-day trading on Tuesday . The stock traded as low as $11.55 and last traded at $11.55. Approximately 1,000 shares traded hands during trading, an increase of 400% from the average session volume of 200 shares. The stock had previously closed at $14.99.
Newbury Street Acquisition Stock Performance
The firm’s 50-day simple moving average is $11.02 and its 200 day simple moving average is $12.85.
About Newbury Street Acquisition
Newbury Street Acquisition Corporation (NASDAQ: NBST) is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company launched its initial public offering in early 2021, raising capital through the sale of units comprised of one share of common stock and a fraction of a warrant. Until it completes a business combination, Newbury Street Acquisition maintains its trust account and evaluates potential acquisition opportunities.
As a SPAC sponsor, Newbury Street Acquisition focuses on identifying target companies primarily within North America across sectors such as technology, consumer products, industrial services and healthcare.
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