CC Neuberger Principal Holdings II (NYSE:PRPB) Shares Down 6.8% – Time to Sell?

CC Neuberger Principal Holdings II (NYSE:PRPB) dropped 6.8% during mid-day trading on Friday . The stock traded as low as $0.75 and last traded at $0.77. Approximately 1,229,158 shares were traded during mid-day trading, an increase of 152% from the average daily volume of 487,352 shares. The stock had previously closed at $0.8260.

CC Neuberger Principal Holdings II Stock Down 6.8%

The company’s fifty day simple moving average is $0.81 and its 200 day simple moving average is $1.26.

CC Neuberger Principal Holdings II Company Profile

CC Neuberger Principal Holdings II (NYSE: PRPB) is a special purpose acquisition company (SPAC) formed to effectuate a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. The company held its initial public offering in September 2020 and has not yet consummated a business combination. PRPB’s shares and warrants are traded on the New York Stock Exchange, and its proceeds are held in a trust account pending identification of a suitable target.

Sponsors of CC Neuberger Principal Holdings II include CC Capital Partners, Neuberger Berman and Principal Financial Group.