FortuneX Acquisition Corporation (NASDAQ:FXAC) Sees Large Decline in Short Interest

FortuneX Acquisition Corporation (NASDAQ:FXAC) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 177 shares, a drop of 59.0% from the September 15th total of 432 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 14,727 shares, the days-to-cover ratio is presently 0.0 days.

FortuneX Acquisition Trading Up 0.3%

FXAC stock traded up $0.04 during midday trading on Tuesday, hitting $10.13. 2,915 shares of the company’s stock were exchanged, compared to its average volume of 40,142. The stock’s fifty day moving average is $10.07. FortuneX Acquisition has a one year low of $9.97 and a one year high of $10.43.

About FortuneX Acquisition

FortuneX Acquisition Corp. is a blank-check company, also known as a special purpose acquisition company (SPAC). The company was formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, FortuneX Acquisition Corp. does not have established products, services, or recurring commercial operations of its own. Its activities are primarily focused on raising capital through a public offering, evaluating potential acquisition targets, and seeking shareholder approval for a proposed transaction.

The company is incorporated in the Cayman Islands and is listed on the Nasdaq Stock Market under the symbol FXAC.