Shares of Inflection Point Acquisition Corp. (NASDAQ:IPAX – Get Free Report) were down 4.2% during mid-day trading on Friday. The stock traded as low as $10.07 and last traded at $10.45. Approximately 6,269,450 shares were traded during trading, an increase of 2,157% from the average session volume of 277,739 shares. The stock had previously closed at $10.91.
Inflection Point Acquisition Stock Up 0.7%
The business’s 50 day simple moving average is $14.73 and its 200 day simple moving average is $20.75.
About Inflection Point Acquisition
Inflection Point Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. As a blank-check company, it did not have significant independent business operations, products, or services of its own.
The company entered into a business combination agreement with Intuitive Machines, a space exploration, infrastructure, and services company. The transaction was completed in 2023, after which Intuitive Machines became a publicly traded company and Inflection Point Acquisition Corp.
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