Short Interest in Gigcapital8 Corp. (NASDAQ:GIWWR) Grows By 82.1%

Gigcapital8 Corp. (NASDAQ:GIWWR) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 12,373 shares, a growth of 82.1% from the July 30th total of 6,794 shares. Based on an average daily volume of 6,674 shares, the days-to-cover ratio is currently 1.9 days.

Gigcapital8 Price Performance

NASDAQ:GIWWR remained flat at $0.27 during mid-day trading on Friday. The firm has a 50 day simple moving average of $0.28 and a two-hundred day simple moving average of $0.30. Gigcapital8 has a 12-month low of $0.22 and a 12-month high of $0.45.

Gigcapital8 Company Profile

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.