Keep Your Eyes on This Stock Alert: Greenland Acquisition Corporation (NASDAQ:GLAC)

Greenland Acquisition Corporation (NASDAQ:GLAC) stock identified change of 9.44% away from 52-week low price and recently located move of -29.02% off 52-week high price. It has market worth of $43.42M . GLAC stock has been recorded -25.07% away from 50 day moving average and -24.69% away from 200 day moving average. Moving closer, we can see that shares have been trading -21.81% off 20-day moving average.

Greenland Acquisition Corporation (NASDAQ:GLAC) and Zhongchai Holding (Hong Kong) Limited (Zhongchai Holding)  jointly announced the closing of the previously-announced business combination (the Business Combination) pursuant to which Zhongchai Holding became a wholly-owned subsidiary of the Company and the former shareholder of Zhongchai Holding acquired 7,500,000 ordinary shares of the Company (Ordinary Shares). The transaction was approved at a special meeting of the Company’s shareholders in lieu of an annual meeting held on October 24, 2019.

 

As part of the transaction, the Company changed its name to Greenland Technologies Holding Corporation. As a result, the Company expects that its ordinary shares and warrants will begin trading on The Nasdaq Capital Market under the ticker symbols GTEC and GTECW, respectively, starting on or about October 28, 2019, and that its units and rights will cease trading as of the close of business on October 28, 2019.

Zhongchai Holding is a developer and manufacturer of traditional transmission products for material handling machineries and a developer of a robotic cargo carrier prototype expected to be available for commercial use in the near future in China.

The Conglomerates sector company, Greenland Acquisition Corporation noticed change of -16.56% to $7.51 along volume of 105826 shares in recent session compared to an average volume of 51.24K. The stock observed return of -27.30% in 5 days trading activity. The stock was at -27.44% over one month performance. GLAC’s shares are at -26.08% for the quarter is now at -24.14% since this point in 2018.

The average volatility for the week at 13.36% and for month was at 6.32%. There are 5.78M shares outstanding.

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