Spring Valley Acquisition (NASDAQ:SV) Shares Down 5.4% – Here’s Why

Spring Valley Acquisition Corp. (NASDAQ:SV)’s share price dropped 5.4% during trading on Thursday . The company traded as low as $10.1050 and last traded at $10.26. Approximately 23,241,658 shares traded hands during mid-day trading, an increase of 4,280% from the average daily volume of 530,580 shares. The stock had previously closed at $10.84.

Spring Valley Acquisition Trading Down 5.4%

The business has a fifty day moving average price of $14.09 and a 200-day moving average price of $23.38.

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.