Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) Shares Down 47.1% – Here’s Why

Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) dropped 47.1% on Thursday . The stock traded as low as $5.75 and last traded at $5.77. Approximately 162,400 shares were traded during trading, an increase of 1,620% from the average daily volume of 9,443 shares. The stock had previously closed at $10.90.

Atlantic Coastal Acquisition Corp. II Stock Performance

The firm has a 50 day moving average of $9.20 and a two-hundred day moving average of $10.52.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Atlantic Coastal Acquisition Corp. II stock. Flow Traders U.S. LLC acquired a new position in shares of Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,741 shares of the company’s stock, valued at approximately $243,000. Flow Traders U.S. LLC owned about 0.27% of Atlantic Coastal Acquisition Corp. II as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 23.30% of the company’s stock.

Atlantic Coastal Acquisition Corp. II Company Profile

Atlantic Coastal Acquisition Corp. II does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses in financial services industry and mobility sector.