Idea Acquisition Corp. (NASDAQ:IACOU) Short Interest Up 781.6% in August

Idea Acquisition Corp. (NASDAQ:IACOU) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 432 shares, a growth of 781.6% from the July 30th total of 49 shares. Based on an average trading volume of 360 shares, the days-to-cover ratio is currently 1.2 days.

Idea Acquisition Stock Performance

NASDAQ:IACOU remained flat at $10.05 during midday trading on Thursday. The company had a trading volume of 23,204 shares, compared to its average volume of 70,635. Idea Acquisition has a 1 year low of $9.87 and a 1 year high of $10.31. The business has a 50 day simple moving average of $10.05.

About Idea Acquisition

Idea Acquisition (NASDAQ: IACOU) is a special purpose acquisition company (SPAC), commonly known as a blank‑check company, whose units trade on the Nasdaq exchange under the ticker IACOU. As a SPAC, its principal business purpose is to raise capital through an initial public offering and to identify, negotiate and complete a business combination with one or more operating companies. The company’s publicly stated objective is to use the proceeds from its offering to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.

Like other SPACs, Idea Acquisition’s activities center on sourcing potential acquisition targets, conducting due diligence, structuring transaction terms and obtaining shareholder approval for a proposed business combination.