Melar Acquisition Corp. I (NASDAQ:MACIU – Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 111 shares, a growth of ∞ from the June 30th total of 0 shares. Based on an average daily volume of 11 shares, the days-to-cover ratio is presently 10.1 days.
Melar Acquisition Corp. I Price Performance
Shares of MACIU remained flat at $11.20 during mid-day trading on Thursday. The stock had a trading volume of 785 shares, compared to its average volume of 1,936. The stock has a 50-day simple moving average of $11.97 and a 200-day simple moving average of $11.28. Melar Acquisition Corp. I has a twelve month low of $10.49 and a twelve month high of $20.00.
About Melar Acquisition Corp. I
Melar Acquisition Corp. I is a special purpose acquisition company (“SPAC”) organized as a Delaware corporation to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, it holds its proceeds in a trust account pending approval of a business combination by its shareholders. Melar Acquisition Corp. I operates with no revenues or commercial operations of its own until completion of its initial acquisition.
In 2021, Melar Acquisition Corp.
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