Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) Short Interest Up 199.1% in August

Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 3,368 shares, a growth of 199.1% from the August 15th total of 1,126 shares. Based on an average daily trading volume, of 4,373 shares, the short-interest ratio is presently 0.8 days.

Southern Cross Acquisition I Stock Up 1.6%

Shares of NCOOU stock traded up $0.16 during trading on Monday, hitting $10.29. The company’s stock had a trading volume of 2,637 shares, compared to its average volume of 36,722. Southern Cross Acquisition I has a 52 week low of $9.99 and a 52 week high of $10.82.

Southern Cross Acquisition I is a blank check company, also known as a special purpose acquisition company (SPAC), formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

As a SPAC, the company does not have ongoing commercial operations of its own and is focused on identifying and completing an initial acquisition opportunity. Its business strategy is typically to target companies across a range of industries and geographies, depending on the terms of its formation documents and the expertise of its management team.

Publicly available details about Southern Cross Acquisition I’s specific target sector, historical operating background, and broader geographic focus are limited.