Andretti Acquisition Corp. II (NASDAQ:POLE) Trading Down 0% - Here's Why

Key Points

• POLE was essentially unchanged at approximately $10.715 on Friday, with only 238 shares traded—down 100% from its average session volume of 148,214 shares.
• Weiss Ratings reiterated a “Sell (D)” rating, and the sole tracked analyst maintains a consensus “Sell” rating on the stock.
• Several institutional investors initiated or increased positions in the SPAC, including Clear Street Group, which raised its holdings by 1,179.7%, and Berkley W R Corp., which held 462,495 shares as of the first quarter.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) traded down 0% during trading on Friday . The stock traded as low as $10.72 and last traded at $10.7150. 238 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 148,214 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Andretti Acquisition Corp. II in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Andretti Acquisition Corp. II has a consensus rating of "Sell".

Andretti Acquisition Corp. II Price Performance

The company has a 50-day moving average price of $10.80 and a 200-day moving average price of $10.73.

Hedge Funds Weigh In On Andretti Acquisition Corp. II

Several institutional investors have recently modified their holdings of POLE. Lineage Point Capital LP acquired a new stake in shares of Andretti Acquisition Corp. II in the 4th quarter valued at approximately $299,000. L1 Global Manager Pty Ltd bought a new stake in Andretti Acquisition Corp. II in the fourth quarter valued at approximately $1,051,000. Clear Street Group Inc. raised its holdings in Andretti Acquisition Corp. II by 1,179.7% in the fourth quarter. Clear Street Group Inc. now owns 181,772 shares of the company's stock worth $1,910,000 after purchasing an additional 167,568 shares during the period. Aristeia Capital L.L.C. acquired a new position in shares of Andretti Acquisition Corp. II in the 4th quarter valued at $2,617,000. Finally, Berkley W R Corp grew its holdings in shares of Andretti Acquisition Corp. II by 9.6% in the 1st quarter. Berkley W R Corp now owns 462,495 shares of the company's stock valued at $4,923,000 after buying an additional 40,683 shares during the period.

About Andretti Acquisition Corp. II

Andretti Acquisition Corp. II NASDAQ: POLE is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a business combination with one or more businesses, such as a merger, acquisition, stock purchase, or similar transaction.

As a SPAC, Andretti Acquisition Corp. II does not have significant ongoing operating activities, products, or services of its own. Its primary purpose is to raise capital through a public offering and use those funds, together with other financing, to acquire or combine with an operating company.

The company's ultimate industry focus, geographic scope, and operating profile will depend on the target business it selects.

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