Melar Acquisition Corp. I (NASDAQ:MACIU – Get Free Report) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 1,493 shares, a growth of 262.4% from the October 15th total of 412 shares. Based on an average daily volume of 2,722 shares, the days-to-cover ratio is currently 0.5 days.
Melar Acquisition Corp. I Trading Up 8.8%
MACIU traded up $0.79 during trading on Friday, reaching $9.80. 1,841 shares of the company traded hands, compared to its average volume of 2,006. Melar Acquisition Corp. I has a 12-month low of $7.58 and a 12-month high of $20.00. The firm has a fifty day simple moving average of $10.53 and a 200 day simple moving average of $11.08.
About Melar Acquisition Corp. I
Melar Acquisition Corp. I is a special purpose acquisition company, or SPAC, formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. As a SPAC, the company does not have its own established operating business, products, or services. Its primary activity is identifying and completing a business combination. Information about a completed transaction, operating geographies, or the company’s leadership is not included here because it could not be reliably confirmed.
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