Churchill Capital Corp X (NASDAQ:CCCX) Shares Gap Down – Time to Sell?

by · The Cerbat Gem

Churchill Capital Corp X (NASDAQ:CCCX – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $17.52, but opened at $16.28. Churchill Capital Corp X shares last traded at $17.08, with a volume of 511,272 shares trading hands.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on Churchill Capital Corp X

Churchill Capital Corp X Stock Down 3.8%

The stock’s 50 day simple moving average is $16.00.

Institutional Investors Weigh In On Churchill Capital Corp X

Hedge funds have recently made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in shares of Churchill Capital Corp X in the third quarter valued at $1,736,000. Shaolin Capital Management LLC bought a new stake in Churchill Capital Corp X during the 3rd quarter worth about $643,000. Schonfeld Strategic Advisors LLC acquired a new stake in Churchill Capital Corp X in the 3rd quarter valued at about $529,000. Polar Asset Management Partners Inc. bought a new position in shares of Churchill Capital Corp X in the third quarter worth about $5,144,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of Churchill Capital Corp X during the third quarter worth approximately $4,758,000.

Churchill Capital Corp X Company Profile

(Get Free Report)

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.

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