Novus Capital Co. (OTCMKTS:NOVSU – Get Free Report) shot up 9.3% during trading on Wednesday. The stock traded as high as $35.81 and last traded at $35.75. Approximately 1,400 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,537 shares. The stock had previously closed at $32.71.
Novus Capital Stock Performance
The stock has a 50-day moving average of $35.75 and a 200 day moving average of $35.75.
Novus Capital Company Profile
Novus Capital Corporation was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Rather than selling products or services directly, the company raised capital through a public offering and sought a merger, acquisition, stock purchase, or similar transaction.
As a SPAC, Novus Capital did not have significant operating activities, proprietary products, or a defined geographic customer base before completing a transaction.
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