Sachem Capital Corp. 7.125% Not (OTCMKTS:SCCB) Shares Cross Above Fifty Day Moving Average – Here’s Why

Sachem Capital Corp. 7.125% Not (OTCMKTS:SCCB)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $24.98 and traded as high as $24.99. Sachem Capital Corp. 7.125% Not shares last traded at $24.98, with a volume of 400 shares traded.

Sachem Capital Corp. 7.125% Not Price Performance

The business has a 50 day moving average price of $24.98 and a 200-day moving average price of $24.98.

Sachem Capital Corp. 7.125% Not Company Profile

Sachem Capital Corp. is a special purpose acquisition company organized under the laws of the State of Delaware in June 2020. As a blank check company, it was formed with the sole purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. To date, Sachem Capital Corp. has not announced a definitive business combination target.

In December 2020, the company completed its initial public offering of 30,000,000 units at a price of $10.00 per unit, raising gross proceeds of $300 million.