Churchill Capital Corp X (NASDAQ:CCCX) Trading Down 3.8% – Here’s What Happened

Churchill Capital Corp X (NASDAQ:CCCX) dropped 3.8% during trading on Tuesday . The stock traded as low as $15.67 and last traded at $15.75. Approximately 850,571 shares traded hands during trading, a decline of 68% from the average daily volume of 2,697,615 shares. The stock had previously closed at $16.38.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Churchill Capital Corp X in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Churchill Capital Corp X Trading Down 2.4%

The company has a 50-day moving average of $16.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Group One Trading LLC purchased a new stake in Churchill Capital Corp X during the 3rd quarter worth approximately $52,000. Wexford Capital LP purchased a new position in Churchill Capital Corp X in the third quarter valued at $64,000. IFP Advisors Inc acquired a new position in Churchill Capital Corp X during the 3rd quarter worth $122,000. ATW Spac Management LLC purchased a new stake in Churchill Capital Corp X during the 3rd quarter worth about $129,000. Finally, MGO One Seven LLC acquired a new stake in Churchill Capital Corp X in the 3rd quarter valued at about $129,000.

Churchill Capital Corp X Company Profile

Churchill Capital Corp X (NASDAQ: CCCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through an initial public offering for the purpose of effecting one or more business combinations. As a SPAC, it initially holds the proceeds from its public offering in a trust account while management and the sponsor identify and negotiate a potential merger, acquisition, or other qualifying business combination that would result in the acquired company becoming publicly listed.

The company’s primary activities are sourcing, evaluating and completing a business combination with a target company.