Churchill Capital Corp X (NASDAQ:CCCX) Stock Price Down 11.8% – What’s Next?

Churchill Capital Corp X (NASDAQ:CCCX) shares dropped 11.8% on Thursday . The stock traded as low as $12.33 and last traded at $12.66. Approximately 1,778,778 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 2,354,467 shares. The stock had previously closed at $14.35.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Churchill Capital Corp X in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Churchill Capital Corp X Price Performance

The company has a 50-day simple moving average of $15.59.

Institutional Investors Weigh In On Churchill Capital Corp X

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new stake in Churchill Capital Corp X in the 4th quarter worth approximately $62,000. Group One Trading LLC purchased a new position in shares of Churchill Capital Corp X in the third quarter worth $52,000. Wexford Capital LP acquired a new stake in shares of Churchill Capital Corp X during the third quarter worth $64,000. IFP Advisors Inc purchased a new stake in shares of Churchill Capital Corp X during the third quarter valued at $122,000. Finally, ATW Spac Management LLC purchased a new stake in shares of Churchill Capital Corp X during the third quarter valued at $129,000.

Churchill Capital Corp X Company Profile

Churchill Capital Corp X (NASDAQ: CCCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through an initial public offering for the purpose of effecting one or more business combinations. As a SPAC, it initially holds the proceeds from its public offering in a trust account while management and the sponsor identify and negotiate a potential merger, acquisition, or other qualifying business combination that would result in the acquired company becoming publicly listed.

The company’s primary activities are sourcing, evaluating and completing a business combination with a target company.