Spring Valley Acquisition (OTCMKTS:SVSVU) Trading 1.4% Higher – Here’s Why

Shares of Spring Valley Acquisition Corp. (OTCMKTS:SVSVU) shot up 1.4% on Wednesday . The stock traded as high as $11.25 and last traded at $11.15. 2,900 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 5,602 shares. The stock had previously closed at $11.00.

Spring Valley Acquisition Trading Up 1.4%

The company’s 50 day simple moving average is $11.15 and its 200-day simple moving average is $11.15.

Spring Valley Acquisition Company Profile

Spring Valley Acquisition Corp (OTCMKTS:SVSVU) is a special purpose acquisition company (SPAC) incorporated as an exempted company in the Cayman Islands. The firm was formed to raise capital through an initial public offering and to use the proceeds to complete a merger, share exchange, asset acquisition or other business combination with one or more operating businesses.

Spring Valley Acquisition has no commercial operations of its own; its primary activity is identifying and evaluating potential target companies across a broad range of industries.