TCGX Acquisition Corp. (NASDAQ:TCGX) Sees Large Growth in Short Interest

TCGX Acquisition Corp. (NASDAQ:TCGX) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 53,161 shares, a growth of 21,164.4% from the September 15th total of 250 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 18,178 shares, the short-interest ratio is presently 2.9 days.

TCGX Acquisition Stock Up 4.0%

TCGX stock traded up $0.48 during midday trading on Friday, hitting $12.51. 895 shares of the company’s stock were exchanged, compared to its average volume of 55,714. The company’s 50-day simple moving average is $13.77. TCGX Acquisition has a 1-year low of $10.30 and a 1-year high of $18.91.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded TCGX Acquisition to a “hold” rating in a report on Saturday, August 15th.

About TCGX Acquisition

TCGX Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Potential transactions may include a merger, share purchase, asset acquisition, reorganization or similar corporate transaction.

Unlike an operating company, TCGX Acquisition does not appear to provide products or services directly to customers. Its activities are focused on evaluating potential acquisition targets and completing an initial business combination, after which the combined company would conduct the underlying operating business.

Publicly available information about the company’s specific target industry, geographic markets and long-term operating plans is limited.