Drugs Made in America Acquisition Corp. (NASDAQ:DMAAU – Get Free Report)’s share price was up 2.8% during mid-day trading on Friday. The stock traded as high as $11.50 and last traded at $11.30. Approximately 1,650 shares changed hands during trading, a decline of 65% from the average daily volume of 4,762 shares. The stock had previously closed at $10.99.
Drugs Made in America Acquisition Price Performance
The stock’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $10.80.
Drugs Made in America Acquisition Company Profile
Drugs Made in America Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its Nasdaq-listed units trade under the symbol DMAAU.
The company does not have an established portfolio of drugs, medical products, or commercial services of its own. Its stated strategy is to pursue a merger, acquisition, or similar transaction with a company in the pharmaceutical, biotechnology, or related healthcare sectors, with an emphasis on businesses connected to drug development or manufacturing in the United States.
As a SPAC, Drugs Made in America Acquisition Corp.
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