Melar Acquisition Corp. I (NASDAQ:MACIU – Get Free Report) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 419 shares, a growth of 277.5% from the July 30th total of 111 shares. Based on an average daily volume of 140 shares, the days-to-cover ratio is currently 3.0 days.
Melar Acquisition Corp. I Price Performance
Shares of MACIU remained flat at $11.25 during trading hours on Friday. Melar Acquisition Corp. I has a 1 year low of $10.69 and a 1 year high of $20.00. The business’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $11.29.
About Melar Acquisition Corp. I
Melar Acquisition Corp. I is a special purpose acquisition company (“SPAC”) organized as a Delaware corporation to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, it holds its proceeds in a trust account pending approval of a business combination by its shareholders. Melar Acquisition Corp. I operates with no revenues or commercial operations of its own until completion of its initial acquisition.
In 2021, Melar Acquisition Corp.
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