Inflection Point Acquisition Corp. (NASDAQ:IPAX - Get Free Report)'s share price was down 1.6% on Wednesday . The company traded as low as $4.90 and last traded at $5.00. Approximately 2,677,128 shares traded hands during trading, an increase of 864% from the average daily volume of 277,739 shares. The stock had previously closed at $5.08.
Inflection Point Acquisition Stock Performance
The business has a 50-day moving average price of $6.13 and a two-hundred day moving average price of $4.35.
Hedge Funds Weigh In On Inflection Point Acquisition
A number of institutional investors and hedge funds have recently modified their holdings of IPAX. JPMorgan Chase & Co. acquired a new position in shares of Inflection Point Acquisition during the first quarter worth $1,924,000. Citigroup Inc. acquired a new position in shares of Inflection Point Acquisition during the first quarter worth $1,451,000. Bank of Montreal Can acquired a new position in shares of Inflection Point Acquisition during the first quarter worth $287,000. Goldman Sachs Group Inc. acquired a new position in shares of Inflection Point Acquisition during the first quarter worth $3,274,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Inflection Point Acquisition during the first quarter worth $7,252,000. Institutional investors and hedge funds own 94.74% of the company's stock.
About Inflection Point Acquisition
(
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Inflection Point Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the consumer and technology industries. The company was incorporated in 2021 and is based in New York, New York.
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