Virgin Group Acquisition Corp. II (NYSE:VGII) Trading Down 1.5% – Time to Sell?

Shares of Virgin Group Acquisition Corp. II (NYSE:VGII) were down 1.5% during mid-day trading on Wednesday . The stock traded as low as $1.26 and last traded at $1.28. Approximately 75,648 shares were traded during trading, a decline of 46% from the average daily volume of 141,126 shares. The stock had previously closed at $1.30.

Virgin Group Acquisition Corp. II Stock Down 1.5%

The stock has a 50 day moving average price of $1.27 and a 200 day moving average price of $1.40.

Virgin Group Acquisition Corp. II Company Profile

Virgin Group Acquisition Corp. II is a publicly traded special purpose acquisition company (SPAC) sponsored by the Virgin Group and its affiliates. Incorporated in Delaware, the company launched its initial public offering in 2021 and is listed on the New York Stock Exchange under the ticker VGII. As a blank‐check vehicle, its primary objective is to identify and merge with a privately held business, thereby taking that company public through a deSPAC transaction.

The company targets businesses operating in the digital economy, consumer, media, entertainment and technology sectors.