Futurewave Acquisition Corporation (NASDAQ:FWAC) Stock Short Interest Rises 99.6%

Futurewave Acquisition Corporation (NASDAQ:FWAC) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,335 shares, a growth of 99.6% from the September 15th total of 669 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 64,702 shares, the days-to-cover ratio is currently 0.0 days.

Futurewave Acquisition Price Performance

Shares of Futurewave Acquisition stock remained flat at $9.96 during trading on Friday. The company had a trading volume of 129,616 shares, compared to its average volume of 100,546. Futurewave Acquisition has a 12 month low of $9.85 and a 12 month high of $9.96. The stock has a 50-day moving average price of $9.93.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Rather than selling products or services directly, the company’s primary activity is raising capital through an initial public offering and using those funds, subject to shareholder approval, to pursue a merger, acquisition, or similar transaction.

As a blank-check company, Futurewave Acquisition does not have an established portfolio of operating products, a broad customer base, or a defined geographic service area in the same manner as a traditional public company.