Inflection Point Acquisition (NASDAQ:IPAX) Stock Price Down 15.9% – Should You Sell?

Inflection Point Acquisition Corp. (NASDAQ:IPAX)’s share price fell 15.9% during mid-day trading on Thursday . The company traded as low as $15.43 and last traded at $15.89. 26,139,241 shares traded hands during mid-day trading, an increase of 9,311% from the average session volume of 277,739 shares. The stock had previously closed at $18.90.

Inflection Point Acquisition Trading Down 15.9%

The company’s 50-day moving average is $17.97 and its 200-day moving average is $12.96.

Inflection Point Acquisition Company Profile

Inflection Point Acquisition Corp. (NASDAQ: IPAX) is a special purpose acquisition company (SPAC) formed in November 2020 with the primary purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, IPAX does not itself conduct operations but seeks to raise capital through its initial public offering and subsequent trust to pursue strategic acquisition opportunities.

The company is sponsored by Inflection Point Advisors, LLC, an investment firm that leverages its deal-sourcing network and industry expertise to identify potential targets.