GX Acquisition (OTCMKTS:GXGXU) Trading 36.5% Higher – Still a Buy?

GX Acquisition Corp. (OTCMKTS:GXGXU) shares traded up 36.5% during mid-day trading on Wednesday . The stock traded as high as $14.00 and last traded at $11.63. 16,100 shares changed hands during trading, an increase of 148% from the average session volume of 6,479 shares. The stock had previously closed at $8.52.

GX Acquisition Stock Up 36.5%

The stock has a 50-day simple moving average of $11.63 and a 200 day simple moving average of $11.63.

GX Acquisition Company Profile

GX Acquisition Corp (OTCMKTS:GXGXU) is a special purpose acquisition company, commonly known as a SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or similar business combination with one or more operating businesses. The company does not engage in any commercial operations of its own and exists primarily to identify and complete an acquisition that meets its investment criteria.

Incorporated in the Cayman Islands, GX Acquisition raised initial public offering proceeds held in a trust account, which are to be used to finance a business combination.