Championsgate Acquisition Corp (NASDAQ:CHPGU) Sees Large Growth in Short Interest

Championsgate Acquisition Corp (NASDAQ:CHPGU) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 4 shares, a growth of 100.0% from the July 30th total of 2 shares. Based on an average daily volume of 1 shares, the days-to-cover ratio is currently 4.0 days.

Championsgate Acquisition Price Performance

CHPGU remained flat at $10.48 during trading on Friday. Championsgate Acquisition has a 12 month low of $10.02 and a 12 month high of $12.10. The business has a fifty day simple moving average of $10.56 and a two-hundred day simple moving average of $10.42.

Championsgate Acquisition Company Profile

Championsgate Acquisition (NASDAQ:CHPGU) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering of units for the purpose of identifying, acquiring, or merging with one or more businesses. As a blank?check vehicle, the company’s primary business activity is to seek and complete a business combination that would result in its target company becoming a publicly traded entity through the SPAC structure.

The typical activities of a SPAC like Championsgate Acquisition include conducting an initial public offering of units, holding the proceeds in a trust account while pursuing potential acquisition targets, negotiating and structuring a business combination, and obtaining shareholder approval to complete a transaction.