American Drive Acquisition Co (NASDAQ:ADAC) Short Interest Update

American Drive Acquisition Co (NASDAQ:ADAC) saw a large growth in short interest in April. As of April 30th, there was short interest totaling 689 shares, a growth of 118.7% from the April 15th total of 315 shares. Based on an average daily trading volume, of 14,531 shares, the short-interest ratio is presently 0.0 days.

American Drive Acquisition Stock Performance

Shares of NASDAQ:ADAC opened at $9.93 on Friday. The company’s 50-day simple moving average is $9.91. American Drive Acquisition has a 1 year low of $9.85 and a 1 year high of $9.99.

American Drive Acquisition Company Profile

American Drive Acquisition (NASDAQ: ADAC) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering and to effect one or more business combinations. As a blank?check vehicle, the company does not operate a traditional commercial business prior to completing a qualifying merger, acquisition or similar transaction; its principal activity is identifying and negotiating a business combination that will allow a private operating company to become publicly listed through the de?SPAC process.

Until a business combination is completed, American Drive Acquisition’s activities are primarily financial and transactional in nature: managing the trust account established at IPO, conducting due diligence on potential targets, and structuring merger or acquisition transactions.