Silver Spike Investment (NASDAQ:SSIC) Trading Down 1.2% - What's Next?

Key Points

• Silver Spike Investment (NASDAQ:SSIC) fell about 1.2% mid-day to $9.50, with volume surging roughly 728% to ~91,251 shares versus its 11,019 average.
• The stock sits below its 50‑day ($10.13) and 200‑day ($10.40) simple moving averages and the company has a market cap of $59.04 million, a P/E of 10.92 and a beta of 0.28.
• Silver Spike is a Delaware‑incorporated blank‑check SPAC (units trade as SSIC) whose primary objective is to identify and acquire one or more businesses through mergers or similar business combinations.

Silver Spike Investment Corp. (NASDAQ:SSIC - Get Free Report)'s stock price dropped 1.2% during mid-day trading on Tuesday . The stock traded as low as $9.50 and last traded at $9.50. Approximately 91,251 shares traded hands during trading, an increase of 728% from the average daily volume of 11,019 shares. The stock had previously closed at $9.62.

Silver Spike Investment Stock Performance

The stock's 50 day simple moving average is $10.13 and its 200-day simple moving average is $10.40. The firm has a market cap of $59.04 million, a price-to-earnings ratio of 10.92 and a beta of 0.28.

Silver Spike Investment Company Profile

Silver Spike Investment Corporation is a blank check company incorporated in Delaware. Its units trade on the Nasdaq Capital Market under the ticker symbol SSIC. As a special purpose acquisition company (SPAC), Silver Spike Investment does not engage in commercial operations of its own.

The company's primary focus is to identify and acquire one or more businesses or assets through mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.