Seaport Global Acquisition (OTCMKTS:SGAMU) Shares Down 27.9% – What’s Next?

Seaport Global Acquisition Corp. (OTCMKTS:SGAMU)’s share price dropped 27.9% during mid-day trading on Tuesday . The company traded as low as $10.45 and last traded at $10.45. Approximately 7,500 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 10,424 shares. The stock had previously closed at $14.50.

Seaport Global Acquisition Stock Down 27.9%

The stock has a 50 day moving average of $10.45 and a 200 day moving average of $10.45.

About Seaport Global Acquisition

Seaport Global Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect one or more business combinations through the acquisition of or merger with privately held operating companies. As a blank‐check issuer, the company does not conduct operations of its own and seeks to leverage public equity markets to raise capital for its acquisition strategy.

The company completed its initial public offering in mid-2021, offering units that trade under the ticker SGAMU on the OTC Markets.