Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCYU) Shares Down 10% – Here’s What Happened

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

Alchemy Investments Acquisition Corp 1 Trading Down 10.0%

The stock’s fifty day moving average is $13.72 and its 200 day moving average is $12.18.

Hedge Funds Weigh In On Alchemy Investments Acquisition Corp 1

An institutional investor recently bought a new position 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 third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.