East West Ave Acquisition Corp. (NASDAQ:EWAVU) Sees Significant Drop in Short Interest

East West Ave Acquisition Corp. (NASDAQ:EWAVU) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 186 shares, a drop of 79.9% from the September 30th total of 924 shares. Based on an average trading volume of 1,036 shares, the short-interest ratio is presently 0.2 days.

East West Ave Acquisition Price Performance

East West Ave Acquisition stock opened at $10.03 on Tuesday. The stock has a fifty day simple moving average of $10.03. East West Ave Acquisition has a 12 month low of $9.91 and a 12 month high of $10.40.

Analyst Ratings Changes

Separately, Wall Street Zen raised East West Ave Acquisition to a “hold” rating in a report on Saturday, August 15th.

Insiders Place Their Bets

In related news, insider Space Summit Capital Llc bought 1,087,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $10.00 per share, with a total value of $10,870,000.00. Following the transaction, the insider owned 1,087,000 shares of the company’s stock, valued at approximately $10,870,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

About East West Ave Acquisition

We are a newly organized blank check company formed as a Nevada corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Throughout this prospectus we will refer to this as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.