Chenghe Acquisition I (NASDAQ:LATG) Stock Price Up 40% – Still a Buy?

Chenghe Acquisition I Co. (NASDAQ:LATG)’s stock price rose 40% during trading on Thursday . The stock traded as high as $12.00 and last traded at $11.90. Approximately 16,389 shares were traded during trading, a decline of 86% from the average daily volume of 117,542 shares. The stock had previously closed at $8.50.

Chenghe Acquisition I Stock Up 40.0 %

The company has a fifty day moving average price of $11.32 and a two-hundred day moving average price of $11.45.

Institutional Investors Weigh In On Chenghe Acquisition I

An institutional investor recently raised its position in Chenghe Acquisition I stock. Wolverine Asset Management LLC lifted its stake in Chenghe Acquisition I Co. (NASDAQ:LATG) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,414 shares of the company’s stock after buying an additional 16,692 shares during the period. Wolverine Asset Management LLC owned approximately 5.21% of Chenghe Acquisition I worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission. 50.85% of the stock is owned by institutional investors.

Chenghe Acquisition I Company Profile

Chenghe Acquisition I Co does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus search for an initial business combination in the TMT, green energy, biotechnology, optoelectronics, and other sectors in the Asia Pacific.