Gigcapital8 Corp. (NASDAQ:GIWWR) Sees Large Growth in Short Interest

Gigcapital8 Corp. (NASDAQ:GIWWR) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 30,521 shares, an increase of 111.2% from the April 30th total of 14,454 shares. Based on an average trading volume of 47,771 shares, the short-interest ratio is currently 0.6 days.

Gigcapital8 Stock Up 3.0%

GIWWR stock traded up $0.01 during mid-day trading on Tuesday, hitting $0.35. 13,402 shares of the company were exchanged, compared to its average volume of 42,474. The business has a 50 day simple moving average of $0.30. Gigcapital8 has a 1-year low of $0.25 and a 1-year high of $0.45.

About Gigcapital8

GigCapital8 (NASDAQ: GIWWR) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition or other business combination with one or more businesses. As a blank?check vehicle, GigCapital8 does not operate an ongoing commercial business prior to completing a qualifying business combination; its principal activity is identifying and negotiating a combination with a target company that will permit the combined entity to become publicly listed.

Like other SPACs, GigCapital8 holds the proceeds of its offering in a trust account invested in cash and cash equivalents or short?term government instruments until a business combination is completed or the trust is liquidated.