E-commerce solutions company, Nogin’s (NASDAQ:NOGN) stock, is up nearly 3% this morning after making a less-than-stellar debut on the Nasdaq Composite Index Tuesday. So what’s going on with NOGN stock lately?
Well, on Tuesday, Nogin became a publicly traded company via a special purpose acquisition company (SPAC) merger with Software Acquisition Group III. Nogin plunged more than 65% on its public offering, closing at $3.35. Throughout the day, the company experienced substantial volatility, reaching as high as $9.99 per share before closing down on the session.
After Tuesday’s unfortunate drop, it seems the bulls came back with a vengeance in premarket trading, buoying the stock up to $3.70. However, it now sits at around the $3.50 level.
The commerce-as-a-service technology platform is designed to assist other e-commerce businesses to understand and enhance their cash flows via automated intelligence and analysis.
What else do you need to know about Nogin this week?
NOGN Stock Climbs Following SPAC Merger
Nogin is the latest and greatest example of the popular SPAC merger that has swept up the public offering world over the past few years. A number of major companies have opted to go public via blank-check companies, saving both time and money compared to the traditional initial public offering route.
Nogin describes itself as a company that “builds, grows and future-proofs online businesses whose needs are too complex for low-cost SAAS e-commerce platforms, yet require more flexibility and economic viability than provided by enterprise solutions”
Indeed the company advises other online companies on their operations using self-learning artificial intelligence. Fundamentally, Nogin provides business analysis on things like cost per click, ad revenue, inventory management and more in order to optimize workflows.
On the date of publication, Shrey Dua did not hold (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.