Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCYU) Trading Down 10% – Time to Sell?

Shares of Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCYU) fell 10% during trading on Thursday . The stock traded as low as $13.50 and last traded at $13.50. 200 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 233 shares. The stock had previously closed at $15.00.

Alchemy Investments Acquisition Corp 1 Stock Down 10.0%

The firm’s 50-day moving average price is $13.53 and its 200 day moving average price is $12.70.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Alchemy Investments Acquisition Corp 1 stock. Clear Street Group Inc. bought a new position in shares of Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCYU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,676 shares of the company’s stock, valued at approximately $29,000.

Alchemy Investments Acquisition Corp 1 Company Profile

Alchemy Investments Acquisition Corp. 1 is a Delaware-incorporated special purpose acquisition company (SPAC) formed to effect a merger, share exchange, asset acquisition, or similar business combination. Trading on the NASDAQ under the ticker ALCYU, the company does not currently engage in commercial operations and holds cash in trust pending identification of a suitable target.

The firm’s sponsor, Alchemy Investments LLC, is a private investment management platform specializing in alternative credit, specialty finance and structured credit investments.