Churchill Capital Corp III (CCXX) shares are trading at higher $10.90.
To add more color to this target, the company’s high over the last year is $12.93 and the low is $9.66. Over the last 52 weeks, CCXX is down -15.70% while the S&P 500 is up 0.31%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CCXX has a short ratio of 1.21 and outstanding shares of 110.00M.
CCXX has seen increased volume after this news and investors are putting their support behind the value proposition. Investors should also keep an eye on sector updates as CCXX has historically followed its peers on positive news.
All told, Churchill Capital Corp III CCXX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CCXX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Churchill Capital Corp III CCXX is now commanding a market cap of 1.20B. CCXX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CCXX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in CCXX, either long or short, and we have not been compensated for this article.