SIM Acquisition Corp. I (NASDAQ:SIMAW) Sees Large Increase in Short Interest

SIM Acquisition Corp. I (NASDAQ:SIMAW) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 7,364 shares, an increase of 137.0% from the May 31st total of 3,107 shares. Based on an average daily trading volume, of 91,564 shares, the short-interest ratio is presently 0.1 days.

SIM Acquisition Corp. I Price Performance

SIMAW stock traded down $0.00 during midday trading on Tuesday, reaching $0.25. SIM Acquisition Corp. I has a 12 month low of $0.13 and a 12 month high of $0.64. The business has a 50-day simple moving average of $0.22 and a 200-day simple moving average of $0.27.

SIM Acquisition Corp. I is a blank?check company formed as a special purpose acquisition company (SPAC). Incorporated in Delaware, the company completed its initial public offering and commenced trading on the NASDAQ under the ticker symbol SIMAW.

The company’s sole business purpose is to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. To date, SIM Acquisition Corp. I has not announced any definitive acquisition targets or business combination agreements.

Proceeds from the company’s initial public offering are held in a trust account pending the completion of a business combination.