Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) Sees Large Decline in Short Interest

Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 262 shares, a decline of 92.2% from the August 31st total of 3,368 shares. Based on an average daily trading volume, of 7,883 shares, the short-interest ratio is presently 0.0 days.

Southern Cross Acquisition I Trading Down 1.1%

Shares of NASDAQ NCOOU traded down $0.12 during midday trading on Friday, hitting $9.96. 1,125 shares of the company’s stock were exchanged, compared to its average volume of 30,673. Southern Cross Acquisition I has a twelve month low of $9.99 and a twelve month high of $10.82. The business’s 50 day moving average is $10.10.

Southern Cross Acquisition I is a blank check company, also known as a special purpose acquisition company (SPAC), formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

As a SPAC, the company does not have ongoing commercial operations of its own and is focused on identifying and completing an initial acquisition opportunity. Its business strategy is typically to target companies across a range of industries and geographies, depending on the terms of its formation documents and the expertise of its management team.

Publicly available details about Southern Cross Acquisition I’s specific target sector, historical operating background, and broader geographic focus are limited.