CIIG Merger Corp. (CIIC) shares are trading at lower $24.10.
To add more color to this target, the company’s high over the last year is $33.50 and the low is $9.30 while the S&P 500 is up 15.29%. 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. CIIC has a short ratio of 0.00 and outstanding shares of 32.34M.
CIIC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 15.29 million and more growth is possible in the weeks ahead. CIIG Merger Corp. CIIC also noted assets of $260.99 million at the end of the last quarter. Investors should also keep an eye on sector updates as CIIC has historically followed its peers on positive news.
All told, CIIG Merger Corp. CIIC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CIIC 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.
CIIG Merger Corp. CIIC is now commanding a market cap of 839.40M and a float of 25.88M. CIIC 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 CIIC 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 CIIC, either long or short, and we have not been compensated for this article.