Spring Valley Acquisition Corp. (NASDAQ:SV – Get Free Report)’s share price shot up 4.4% on Wednesday. The company traded as high as $8.37 and last traded at $8.02. 44,480,262 shares traded hands during trading, an increase of 8,283% from the average session volume of 530,580 shares. The stock had previously closed at $7.68.
Spring Valley Acquisition Stock Down 4.6%
The company’s 50 day simple moving average is $9.01 and its 200-day simple moving average is $10.07.
About Spring Valley Acquisition
Spring Valley Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a merger, capital stock exchange, asset acquisition, or similar business combination with an operating company. As a blank-check company, it did not have significant independent operating activities, products, or services before completing its business combination.
Spring Valley focused its search on businesses in the energy, industrial technology, and related sectors. Its principal transaction was the merger with NuScale Power, a developer of small modular nuclear reactor technology.
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