Sachem Capital Corp. 7.125% Not (OTCMKTS:SCCB) Shares Cross Below 200 Day Moving Average – Here’s Why
by Scott Moore · The Cerbat GemSachem Capital Corp. 7.125% Not (OTCMKTS:SCCB – Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.98 and traded as low as $24.98. Sachem Capital Corp. 7.125% Not shares last traded at $24.98, with a volume of 400 shares changing hands.
Sachem Capital Corp. 7.125% Not Stock Performance
The company has a 50-day simple moving average of $24.98 and a 200-day simple moving average of $24.98.
About Sachem Capital Corp. 7.125% Not
Sachem Capital Corp. is a special purpose acquisition company organized under the laws of the State of Delaware in June 2020. As a blank check company, it was formed with the sole purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. To date, Sachem Capital Corp. has not announced a definitive business combination target.
In December 2020, the company completed its initial public offering of 30,000,000 units at a price of $10.00 per unit, raising gross proceeds of $300 million.