Plum Acquisition Corp. IV (NASDAQ:PLMK) Shares Down 0.1% - Here's What Happened

Key Points

• Plum Acquisition Corp. IV (NASDAQ:PLMK) shares dropped 0.1%, trading at $10.32, with volume declining by 13% compared to the average daily volume.
• Weiss Ratings reaffirmed a "sell (e+)" rating for Plum Acquisition Corp. IV, contributing to an average "Sell" rating from analysts.
• Several institutional investors, including Kepos Capital LP and BCK Capital Management LP, have recently purchased new stakes in Plum Acquisition Corp. IV, indicating increased interest despite the stock's recent performance.

Shares of Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) dropped 0.1% on Friday . The company traded as low as $10.32 and last traded at $10.32. Approximately 3,939 shares traded hands during trading, a decline of 13% from the average daily volume of 4,534 shares. The stock had previously closed at $10.33.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Plum Acquisition Corp. IV in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

Plum Acquisition Corp. IV Stock Down 0.1%

The stock has a fifty day moving average of $10.30 and a 200 day moving average of $10.22.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLMK. Kepos Capital LP purchased a new position in Plum Acquisition Corp. IV in the 1st quarter worth approximately $502,000. Virtu Financial LLC purchased a new position in Plum Acquisition Corp. IV in the 1st quarter worth approximately $694,000. Moore Capital Management LP bought a new stake in Plum Acquisition Corp. IV in the 2nd quarter worth approximately $772,000. Aristeia Capital L.L.C. bought a new stake in Plum Acquisition Corp. IV in the 1st quarter worth approximately $1,004,000. Finally, BCK Capital Management LP bought a new stake in Plum Acquisition Corp. IV in the 2nd quarter worth approximately $1,028,000.

About Plum Acquisition Corp. IV

Plum Acquisition Corp. IV is a blank check company, which was established for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded on June 10, 2024 and is headquartered in San Francisco, CA.

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