Virgin Group Acquisition Corp. II (NYSE:VGII) Trading 0.8% Higher - Here's What Happened

Key Points

• Shares rose 0.8% to $1.28 (intraday high $1.29) on Wednesday while volume plunged to 13,732 shares—about a 90% drop versus the average session volume.
• The stock is trading below its short- and long-term averages, with a 50-day moving average of $1.36 and a 200-day moving average of $1.35.
• Virgin-sponsored SPAC Virgin Group Acquisition Corp. II (NYSE: VGII), launched in 2021, seeks deSPAC targets in the digital economy, consumer, media/entertainment and technology sectors.

Virgin Group Acquisition Corp. II (NYSE:VGII - Get Free Report)'s share price traded up 0.8% during trading on Wednesday . The company traded as high as $1.29 and last traded at $1.28. 13,732 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 141,126 shares. The stock had previously closed at $1.27.

Virgin Group Acquisition Corp. II Stock Up 0.8%

The business has a fifty day moving average price of $1.36 and a 200 day moving average price of $1.35.

Virgin Group Acquisition Corp. II Company Profile

Virgin Group Acquisition Corp. II is a publicly traded special purpose acquisition company (SPAC) sponsored by the Virgin Group and its affiliates. Incorporated in Delaware, the company launched its initial public offering in 2021 and is listed on the New York Stock Exchange under the ticker VGII. As a blank‐check vehicle, its primary objective is to identify and merge with a privately held business, thereby taking that company public through a deSPAC transaction.

The company targets businesses operating in the digital economy, consumer, media, entertainment and technology sectors.

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