AlphaVest Acquisition (NASDAQ:ATMV) Trading Down 8.5% - Here's What Happened

Key Points

• AlphaVest Acquisition Corp. (NASDAQ:ATMV) shares fell 8.5% on Monday, closing at $20.31 after reaching a low of $16.16 during trading.
• Institutional investors currently own 46.08% of AlphaVest's stock, with notable increases in holdings from firms like Clear Street LLC and Berkley W R Corp.
• AlphaVest focuses on executing mergers and acquisitions as it does not have significant operations, having been incorporated in 2022.

AlphaVest Acquisition Corp. (NASDAQ:ATMV - ) shares traded down 8.5% on Monday . The stock traded as low as $16.16 and last traded at $20.31. 55,652 shares were traded during trading, a decline of 21% from the average session volume of 70,809 shares. The stock had previously closed at $22.20.

AlphaVest Acquisition Trading Down 8.5%

The stock's fifty day simple moving average is $12.81 and its 200 day simple moving average is $12.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATMV. Toronto Dominion Bank purchased a new stake in AlphaVest Acquisition during the fourth quarter worth about $114,000. Clear Street LLC boosted its holdings in shares of AlphaVest Acquisition by 96.1% in the second quarter. Clear Street LLC now owns 21,671 shares of the company's stock valued at $255,000 after acquiring an additional 10,620 shares during the period. Berkley W R Corp boosted its holdings in shares of AlphaVest Acquisition by 23.7% in the second quarter. Berkley W R Corp now owns 233,745 shares of the company's stock valued at $2,749,000 after acquiring an additional 44,730 shares during the period. Finally, Quarry LP purchased a new stake in shares of AlphaVest Acquisition during the first quarter worth approximately $568,000. 46.08% of the stock is currently owned by institutional investors.

About AlphaVest Acquisition

AlphaVest Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2022 and is based in New York, New York.

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