Future Money Acquisition Corp (NASDAQ:FMACU) Short Interest Up 106.2% in May

Future Money Acquisition Corp (NASDAQ:FMACU) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 967 shares, a growth of 106.2% from the April 30th total of 469 shares. Based on an average trading volume of 79,392 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Future Money Acquisition to a “hold” rating in a report on Saturday, April 4th.

Future Money Acquisition Stock Performance

Shares of NASDAQ:FMACU traded up $0.09 during midday trading on Tuesday, reaching $10.20. The company had a trading volume of 1,212 shares, compared to its average volume of 65,395. The stock has a 50 day simple moving average of $10.05. Future Money Acquisition has a 52-week low of $9.98 and a 52-week high of $10.32.

Future Money Acquisition Company Profile

Future Money Acquisition (NASDAQ: FMACU) is a special purpose acquisition company, commonly known as a blank?check company, that completed an initial public offering of units and is organized to effect a business combination with one or more operating businesses. As a SPAC, its principal activity is to identify, evaluate and consummate mergers, capital stock exchanges, asset acquisitions, reorganizations or similar business combinations that would result in its transition to an operating company.

Like other SPACs, Future Money Acquisition typically holds the proceeds of its offering in a trust account pending the identification and closing of a qualifying transaction.