AGAC Stock Summary and Trading Ideas (African Gold Acquisition Class A | NYSE:AGAC)

African Gold Acquisition Corp is a blank check company.

African Gold Acquisition Class A trades on the NYSE stock market under the symbol AGAC.

As of March 27, 2023, AGAC stock price was flat at $10.25 with 103 million shares trading.

AGAC has a beta of 0.01, meaning it tends to be less sensitive to market movements. AGAC has a correlation of 0.04 to the broad based SPY ETF.

AGAC has a market cap of $530.44 million. This is considered a Small Cap stock.

AGAC has outperformed the market in the last year with a return of +4.9%, while the SPY ETF lost -10.6%. However, in the most recent history, AGAC shares have underperformed the stock market with its stock returning +2.2% in the last 3 month period and +0.4% for the last 2 week period, while SPY has returned +3.9% and +3.1%, respectively.

AGAC support price is $10.22 and resistance is $10.28 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AGAC stock will trade within this expected range on the day.