Altimeter Growth Corp. (OTCMKTS:AGCUU – Get Free Report)’s share price dropped 12.5% on Thursday. The stock traded as low as $11.87 and last traded at $11.87. 150,700 shares were traded during trading, an increase of 51% from the average daily volume of 99,899 shares. The stock had previously closed at $13.56.
Altimeter Growth Stock Down 12.5%
The stock’s fifty day moving average price is $11.87 and its 200-day moving average price is $11.87.
About Altimeter Growth
Altimeter Growth Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with a technology-focused company. As a blank-check company, it did not operate a standalone commercial business or offer products and services of its own before completing its transaction.
The company was sponsored by affiliates of Altimeter Capital, an investment firm founded by Brad Gerstner. Altimeter Growth focused on potential targets in sectors including internet, software, financial technology, and other technology-enabled industries, with an emphasis on businesses serving large or growing markets.
In December 2021, Altimeter Growth completed its business combination with Grab Holdings Inc, a Southeast Asian technology company providing ride-hailing, delivery, and digital financial services.
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