Inflection Point Acquisition (NASDAQ:IPAX) Shares Up 3.4% – Here’s Why

Inflection Point Acquisition Corp. (NASDAQ:IPAX)’s share price rose 3.4% during mid-day trading on Tuesday . The stock traded as high as $19.4150 and last traded at $19.20. Approximately 10,455,475 shares changed hands during mid-day trading, an increase of 3,664% from the average daily volume of 277,739 shares. The stock had previously closed at $18.56.

Inflection Point Acquisition Stock Performance

The stock’s 50-day moving average price is $12.56 and its 200 day moving average price is $11.35.

Inflection Point Acquisition Company Profile

Inflection Point Acquisition Corp. (NASDAQ: IPAX) is a special purpose acquisition company (SPAC) formed in November 2020 with the primary purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, IPAX does not itself conduct operations but seeks to raise capital through its initial public offering and subsequent trust to pursue strategic acquisition opportunities.

The company is sponsored by Inflection Point Advisors, LLC, an investment firm that leverages its deal-sourcing network and industry expertise to identify potential targets.