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Silver Spike Acquisition Corp. (SSPK): The stock long term indicators say Buy today

How have the shares performed?

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Silver Spike Acquisition Corp. (SSPK) saw downtrend of -4.96% in the recent trading with $17.25 being its most recent. The current price level -41.53% lower than the highest price of $29.50 marked by the stock while trading over the past 52-weeks, whereas it is 73.37% higher than the lowest price of $9.95 the company dropped to over past 52-weeks. The latest news story on SSPK appeared in ACCESSWIRE under the title “MERGER ALERT – KSU, and SSPK: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the Mergers of these Companies” on Jun-07-21.

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Squeezing the time span to 30 day period shows us the stock is currently trading -6.96% below one month high and is +33.72% above of the lowest during that time. Looking into the simple moving average, Silver Spike Acquisition Corp. (SSPK)’s stock stands at a SMA-50 of $16.97 while that of 5-day is reading $17.38.

Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and SSPK’s SMA-200 as of now is $15.28.

Silver Spike Acquisition Corp. Earnings – What Happened With SSPK

Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor.

SSPK – Silver Spike Acquisition Corp. Stock Earnings Estimates

Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 31.25 million. SSPK does have institutional investors; and they hold 87.00% of the stock.

Silver Spike Acquisition Corp. – Insider Activity and Holdings

Moreover, the latest SEC filings also revealed that stock came across 0 new insider purchases involving 0 shares. On the other hand, SSPK declared 1,266,608 shares have been sold in 7 insider transactions over the past three months.

As on Mar 30, 2021, Fred Alger Management, LLC was the top most holder in Silver Spike Acquisition Corp. (NASDAQ:SSPK) with an ownership of 4.67 million shares of the company or 18.69% of the stake worth $85.76 million. The filing also reveals Luxor Capital Group, LP as the second largest holder in the company with a control over 9.93% of the outstanding shares. Its stake is worth $45.57 million for having 2.48 million shares in hand.

Falcon Edge Capital, LP also came holding a key position in the company during the recent quarter and it now holds 8.55% of the outstanding shares. With this there are now 72 institutions which have possession in SSPK’s shares.

The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, current ratio recorded by Silver Spike Acquisition Corp. was 0.11 while posting a debt to equity ratio of 0.00.

Technical Analysis of Silver Spike Acquisition Corp. (NASDAQ:SSPK) stock

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To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Silver Spike Acquisition Corp. (SSPK), we notice that the stock’s 20-day average volume is at 289,890 shares. Its 50-day average volume of 297,156 shares. And to end, SSPK’s 100-day average volume is 671,141 shares with 50% of the long-term indicators pointing towards Buy for the stock.

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