Falcon Capital Acquisition (OTCMKTS:FCACU) Stock Price Down 7% – Here’s Why

Falcon Capital Acquisition Corp. (OTCMKTS:FCACU – Get Free Report)’s share price was down 7% during mid-day trading on Thursday. The stock traded as low as $9.35 and last traded at $9.55. 7,500 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 71,200 shares. The stock had previously closed at $10.27.

Falcon Capital Acquisition Price Performance

The company has a 50-day moving average of $9.55 and a 200-day moving average of $9.55.

About Falcon Capital Acquisition

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Falcon Capital Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business through a merger, acquisition, or similar transaction. Unlike an operating company, it did not have an established portfolio of products or services of its own.

The company raised capital through a public offering of units, which generally consisted of common stock and warrants, and placed the proceeds into a trust account while it evaluated potential business combination targets.

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