Quantum FinTech Acquisition (NYSE:QFTA) Shares Up 13.4% – Time to Buy?

Quantum FinTech Acquisition Co. (NYSE:QFTA)’s share price shot up 13.4% on Tuesday . The stock traded as high as $0.2249 and last traded at $0.2219. 6,576,405 shares changed hands during mid-day trading, an increase of 235,529% from the average session volume of 2,791 shares. The stock had previously closed at $0.1957.

Quantum FinTech Acquisition Price Performance

The company’s 50 day simple moving average is $0.22 and its two-hundred day simple moving average is $0.31.

Quantum FinTech Acquisition Company Profile

Quantum FinTech Acquisition Corp. (NYSE: QFTA) is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, share purchase or similar business combination with one or more businesses in the financial technology, digital assets, blockchain technology and quantum computing sectors. As a blank-check vehicle, QFTA provides a public-market structure and capital to partner with emerging companies that leverage cutting-edge technologies to transform traditional financial services and support next-generation digital ecosystems.

The company completed its initial public offering in August 2021, raising gross proceeds that are held in a trust account pending the identification and consummation of a qualifying business combination.