Nubia Brand International Corp Shares Decline 16%

Nubia Brand International Corp.’s share price dropped significantly by 16% on Friday. The stock traded as low as $4.62 and closed at $4.63, a notable decrease from the previous closing price of $5.51.

During mid-day trading, only 900 shares exchanged hands, representing a decline of 62% compared to the average session volume of 2,346 shares.

The company’s 50-day simple moving average is $5.17, while its 200-day simple moving average is $8.49.

Institutional Trading Activity:

Several large investors have made moves about Nubia Brand International Corp. Ergoteles LLC and State Street Corp both acquired new stakes in the company during different quarters, with Ergoteles LLC’s stake valued at $120,000 and State Street Corp’s at $123,000. 

Additionally, Virtu Financial LLC increased its stake by 16.3% in the fourth quarter, now owning 15,227 shares valued at $164,000. 

Bank of America Corp DE and Radcliffe Capital Management L.P. also acquired new stakes during the first quarter, with Bank of America’s stake valued at approximately $1,000,000 and Radcliffe Capital Management’s at around $3,002,000.

Overview of Nubia Brand International Corp:

Nubia Brand International Corp. is a company without significant operations. Its primary objective is to execute mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, and similar business combinations with one or more businesses. Established in 2021, the company is headquartered in Dallas, Texas.