Gores Guggenheim, Inc. (NASDAQ:GGPI – Get Rating) shares rose 14.1% during mid-day trading on Friday . The stock traded as high as $10.25 and last traded at $10.17. Approximately 296,833 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,000,348 shares. The stock had previously closed at $8.91.
The business has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $11.08.
Hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates bought a new stake in shares of Gores Guggenheim during the fourth quarter worth $265,000. Canton Hathaway LLC bought a new stake in shares of Gores Guggenheim during the fourth quarter worth $43,000. Bank of Montreal Can acquired a new stake in shares of Gores Guggenheim during the fourth quarter worth $2,793,000. F3Logic LLC acquired a new stake in shares of Gores Guggenheim during the fourth quarter worth $242,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Gores Guggenheim during the third quarter worth $2,555,000. Institutional investors own 29.16% of the company’s stock.
Gores Guggenheim, Inc does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boulder, Colorado.
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