Indigo Acquisition Corp. (NASDAQ:INACR) Short Interest Down 62.1% in August

Indigo Acquisition Corp. (NASDAQ:INACR) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 994 shares, a decline of 62.1% from the August 15th total of 2,625 shares. Based on an average trading volume of 4,921 shares, the days-to-cover ratio is presently 0.2 days.

Indigo Acquisition Price Performance

Shares of NASDAQ:INACR remained flat at $0.09 on Tuesday. Indigo Acquisition has a 1-year low of $0.09 and a 1-year high of $0.24. The company’s 50-day moving average is $0.12 and its 200 day moving average is $0.13.

Indigo Acquisition Company Profile

Indigo Acquisition (NASDAQ: INACR) is a special purpose acquisition company (SPAC), sometimes called a blank-check company, formed to raise capital through a public offering and to effect a merger, share exchange, asset acquisition or other business combination with one or more operating businesses. As a SPAC, its primary corporate purpose is to identify and complete a qualifying transaction that enables a private company to become publicly listed through a de-SPAC process.

The company’s principal activities include sourcing potential targets, conducting due diligence, negotiating transaction terms, and arranging the financing necessary to complete a business combination.