Spring Valley Acquisition (NASDAQ:SV) Trading Up 2.9% – Here’s Why

Spring Valley Acquisition Corp. (NASDAQ:SV) shares shot up 2.9% on Thursday . The company traded as high as $12.5550 and last traded at $12.38. 18,461,552 shares changed hands during mid-day trading, an increase of 3,380% from the average session volume of 530,580 shares. The stock had previously closed at $12.03.

Spring Valley Acquisition Price Performance

The business’s 50-day simple moving average is $16.32 and its two-hundred day simple moving average is $25.74.

About Spring Valley Acquisition

Spring Valley Acquisition Corp. (NASDAQ: SV) is a publicly traded special purpose acquisition company (SPAC) incorporated in Delaware. The company’s primary objective is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Spring Valley Acquisition seeks to leverage its management team’s experience and capital resources to identify and complete a transaction that delivers value to its shareholders.

Since its initial public offering, Spring Valley Acquisition has focused on opportunities within technology, media, telecommunications and consumer sectors.