Last month, I took some risk by taking a cautious approach to Apex Technology Acquisition Corp. (NASDAQ :APXT). You know this as the special purpose acquisition company (SPAC) that will take Software-as-a-Service specialist AvePoint public. Fundamentally, APXT stock was one of the most anticipated de-SPACs. The market however had other plans.
APXT stock was a penny under $18 at its peak this year. However, shares began to lose red ink since February. Apex technology videos shares fell 34% between February 3 and April 21 when I wrote my take. That’s just three pennies short of $11. You’d think there was little room for fall considering that SPACs can often list at $10.
You would be wrong, at least in the case APXT stock. apex entertainment has been suffering from the constant increase in share prices, which hovered around $10 at the time of writing. It makes me wonder, “What the hell is going on?”
AvePoint isn’t inherently flawed from my perspective. AvePoint has many benefits for clients, even though I believe the greatest challenge to APXT stock’s stock is the threat from competition in the crowded cloud storage and management sector.
According to its website, AvePoint is the largest Microsoft (NASDAQ :MSFT) data management solution provider. AvePoint reduces friction in the digital ecosystem by migrating, managing, and protecting data for “secure Microsoft cloud collaboration”
America’s work environment could never be the same again due to the drastic changes caused by the novel coronavirus panademic. This seems to support APXT stock’s narrative. So, why has APXT stock been falling?
SPAC’d out of APXT Stock
Although I will probably take a lot more heat for this, I believe that many investors piled into stocks like APXT stock as they were SPACs. They didn’t take the time to research the company, its industry and its prospects. They just wanted to know one fact.
But can I prove the above assertion? But I don’t have proof of the above assertion, which will draw criticism. We do have evidence that the investor sentiment in the past 14 months has not been as rational as it once was.
Zoom definitive technology subwoofer (OTCMKTS ZTNO) skyrocketed last March, when it once had the ticker symbol ZOOM. Many people mistakenly believed Zoom Technologies was Zoom Video Communications. (NASDAQ:ZM). If these investors were not able to do proper research on the company they are buying, would it be unreasonable to assume that they bought SPACs because they were SPACs Apex Technology Acquisition Corp. and AvePoint will Participate in Upcoming Conferences
BURLINGAME, Calif. & JERSEY CITY, N.J. -(BUSINESS WIRED)-Apex Technology Acquisition Corp., NASDAQ: APXT, “Apex”) and AvePoint, Inc. (“AvePoint”), the largest provider of data management solutions for the Microsoft cloud, announced today that management will present at upcoming investor conferences.
The following details are available for each event
- William Blair Growth Stock Conference, Tuesday June 1, 2021, 9:40 a.m. ET
- Cowen Annual TMT Conference Wednesday, June 2, 2021, at 1:50 p.m. ET
- Evercore Inaugural Conference on TMT, Monday, June 7, 2021, 12:30 p.m. ET
Apex Technology Acquisition Corporation will provide audio webcasts and live audio webcasts from each conference of Evercore and William Blair.
AvePoint empowers customers to collaborate with confidence. AvePoint’s data management services help customers around the world overcome complex governance, compliance, and transformation challenges in the Microsoft cloud. AvePoint is a five-time Global Microsoft Partner of the Year winner. AvePoint provides the only SaaS solution to migrate, manage, and protect data within Microsoft 365. AvePoint’s cloud solutions are trusted by more than 7 million users, 25% of Fortune 500 companies. AvePoint’s SaaS products are also available to managed services providers so that they can better serve and manage small and medium-sized businesses. AvePoint’s multi-tenant solutions can be accessed through more than a dozen distributors on over 100 cloud marketplaces around the world. AvePoint was founded in 2001 and is headquartered in Jersey City.
About Apex Technology Acquisition Corp.
apex entertainment is a special-purpose acquisition corporation that Jeff Epstein (the former CFO at Oracle) and Brad Koenig (the former head of Goldman Sachs’ global technology investment banking team), are the co-CEOs of.