Future Money Acquisition Corp (NASDAQ:FMACU) Short Interest Update

Future Money Acquisition Corp (NASDAQ:FMACU) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,690 shares, a drop of 56.3% from the May 31st total of 3,867 shares. Based on an average daily volume of 1,106 shares, the short-interest ratio is currently 1.5 days.

Future Money Acquisition Price Performance

Shares of NASDAQ:FMACU traded up $0.01 during midday trading on Tuesday, hitting $10.14. The company had a trading volume of 156 shares, compared to its average volume of 49,195. Future Money Acquisition has a 12-month low of $9.98 and a 12-month high of $10.33. The business has a fifty day simple moving average of $10.11.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Future Money Acquisition to a “hold” rating in a research report on Saturday, April 4th.

About Future Money Acquisition

Future Money Acquisition (NASDAQ: FMACU) is a special purpose acquisition company, commonly known as a blank?check company, that completed an initial public offering of units and is organized to effect a business combination with one or more operating businesses. As a SPAC, its principal activity is to identify, evaluate and consummate mergers, capital stock exchanges, asset acquisitions, reorganizations or similar business combinations that would result in its transition to an operating company.

Like other SPACs, Future Money Acquisition typically holds the proceeds of its offering in a trust account pending the identification and closing of a qualifying transaction.