Melar Acquisition Corp. I (NASDAQ:MACIU – Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 412 shares, a growth of 271.2% from the September 30th total of 111 shares. Based on an average daily trading volume, of 176 shares, the days-to-cover ratio is presently 2.3 days.
Melar Acquisition Corp. I Stock Down 5.9%
Shares of MACIU traded down $0.51 during midday trading on Thursday, hitting $8.19. 489 shares of the company traded hands, compared to its average volume of 2,056. The firm has a 50 day moving average of $11.11 and a 200-day moving average of $11.23. Melar Acquisition Corp. I has a 52 week low of $8.10 and a 52 week high of $20.00.
Melar Acquisition Corp. I Company Profile
Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
As a blank-check company, Melar Acquisition Corp. I does not currently operate a commercial business or offer products and services of its own. Its activities are primarily focused on identifying and evaluating potential acquisition targets and completing a business combination.
The company’s securities trade on the Nasdaq under the symbol MACIU for its units.
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