CC Neuberger Principal Holdings II (NYSE:PRPB) Shares Down 0.8% - Time to Sell?

Key Points

• Shares of CC Neuberger Principal Holdings II fell 0.8% to about $0.84 on Friday with volume of ~693,211 shares (up 42% vs. average); the stock is below its 50‑day ($0.87) and well below its 200‑day ($1.38) moving averages.
• PRPB is a special purpose acquisition company formed in September 2020 that has not yet completed a business combination, with IPO proceeds held in a trust while it searches for a target.
• The SPAC is sponsored by CC Capital Partners, Neuberger Berman and Principal Financial Group, and its shares and warrants trade on the NYSE.

Shares of CC Neuberger Principal Holdings II (NYSE:PRPB - Get Free Report) dropped 0.8% on Friday . The company traded as low as $0.81 and last traded at $0.8377. Approximately 693,211 shares traded hands during trading, an increase of 42% from the average daily volume of 487,352 shares. The stock had previously closed at $0.8448.

CC Neuberger Principal Holdings II Trading Down 0.8%

The stock has a fifty day moving average of $0.87 and a two-hundred day moving average of $1.38.

About CC Neuberger Principal Holdings II

CC Neuberger Principal Holdings II NYSE: PRPB is a special purpose acquisition company (SPAC) formed to effectuate a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. The company held its initial public offering in September 2020 and has not yet consummated a business combination. PRPB’s shares and warrants are traded on the New York Stock Exchange, and its proceeds are held in a trust account pending identification of a suitable target.

Sponsors of CC Neuberger Principal Holdings II include CC Capital Partners, Neuberger Berman and Principal Financial Group.

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