Redbox (NASDAQ:RDBX) stock is flying high on Tuesday following the company’s initial public offering (IPO) yesterday!
However, Redbox didn’t use an actual IPO to go public. Instead, the company chose a special purpose acquisition company (SPAC) merger for its public debut. This saw it combining with Seaport Global.
The company’s first day of trading went well for it as shares climbed more than 20% by the time normal trading hours ended. That momentum is continuing into today and investors are excited about what lies ahead for RDBX stock.
Let’s take a look at what they have to say below!
Redbox IPO Twitter Chatter
$RDBX 94.43% institutional owned. The SI is wrong because it had a ticker change!!! They merged with the SPAC Seaport Global which was one of the heaviest shorted stocks in the market. Why are you all panic selling turning 2 halts up to a huge sell off. We hold the $$$$!
— Theresa Perrin (@theresa_perrin) October 26, 2021
— E.F. Hutton (@OTC_Penny_Stock) October 25, 2021
— SPAC Picks (@SPACpicks) October 25, 2021
$RDBX buying more on the dip! This is a long term hold for BIG gains!
— Christopher Poulsen (@c4yourself) October 26, 2021
$RDBX filled some here with a tight stop at 19. Looking for 23 break then towards PreMarket high of 27. Possibly 30s
— TradingForGreen (@TradingForGreen) October 26, 2021
RDBX stock is looking for another strong day with heavy trading. As of this writing, more than 12 million shares of the stock have changed hands. That’s a major increase over its daily average trading volume of about 302,000 shares.
RDBX stock was up 32.6% as of Tuesday morning.
Investors looking for more recent stock market news will want to stick around!
InvestorPlace offers up daily coverage of the stock market and Tuesday is no different. A few examples of stories to look into today include why shares of Ocugen (NASDAQ:OCGN) are soaring higher, price predictions for Shiba Inu (CCC:SHIB-USD), as well as this morning’s biggest pre-market stock movers. You can find all of that information by following the links below!
More Stock Market News for Tuesday
- OCGN Stock Soars 30% as WHO Kicks Off COVAXIN Review
- Shiba Inu Price Predictions: How High Can the #ShibaArmy Take SHIB After New Record High?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.