Spacsphere Acquisition Corp. (NASDAQ:SSACU) Sees Large Decrease in Short Interest

Spacsphere Acquisition Corp. (NASDAQ:SSACU) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 87 shares, a drop of 39.2% from the July 30th total of 143 shares. Based on an average daily volume of 36 shares, the days-to-cover ratio is currently 2.4 days.

Hedge Funds Weigh In On Spacsphere Acquisition

A hedge fund recently bought a new position in Spacsphere Acquisition stock. Susquehanna International Group LLP purchased a new stake in shares of Spacsphere Acquisition Corp. (NASDAQ:SSACU) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,241 shares of the company’s stock, valued at approximately $102,000.

Spacsphere Acquisition Price Performance

Shares of SSACU remained flat at $10.25 during midday trading on Tuesday. Spacsphere Acquisition has a twelve month low of $9.95 and a twelve month high of $10.31. The stock has a fifty day simple moving average of $10.23.

Spacsphere Acquisition Company Profile

Spacsphere Acquisition (NASDAQ: SSACU) is a special purpose acquisition company (SPAC) whose units trade on the Nasdaq under the ticker SSACU. As a blank?check company, its primary purpose is to raise capital through public markets and use those proceeds to identify, acquire, or merge with one or more privately held businesses, thereby bringing a target company public through a business combination or reverse merger.

The company’s main activities center on deal sourcing and transaction execution: evaluating potential acquisition targets, negotiating terms of a business combination, and completing the legal and regulatory steps required to consummate a merger.