Pershing Square Tontine (PSTH) Dips 5%: What You Should Know?

Starting from July 20 till July 22 the stock was fluctuating at $20.36 with the small volatility. Then, it sharply increased to $20.79 on the next day. After it, the stock increased to $20.23 and it is still trading at that level with the small volatility. The market capitalization of the company is $3.998 billion, while the total volume consists of 3,079,129 shares.

On August 20, the president of Pershing Square Tontine Holdings, Bill Ackma wrote a letter to the shareholders. In the letter, it is said that a shareholder has filed the lawsuit that the company is working illegally because it is also investing the profit from IPO to the other securities. 

However, this is what all SPACs are doing in order to complete the money that is required for the finishing of the initial business combinations. Also, it is said that if the company has cash and government securities it does not mean that that the company is working illegally, not only the PSTH but also the hundreds of other companies. 

Agneta Johansen

Agneta is still enjoying her trips to Asia and Africa while she works at Own Snap as an author and reporter. Very soon she will settle somewhere in Europe and run her startup enterprise.