Future Money Acquisition Corp (NASDAQ:FMACU – Get Free Report) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 3,867 shares, a growth of 299.9% from the May 14th total of 967 shares. Based on an average daily trading volume, of 96,784 shares, the days-to-cover ratio is presently 0.0 days.
Future Money Acquisition Stock Up 0.5%
Future Money Acquisition stock opened at $10.15 on Friday. The company has a 50 day moving average of $10.08. Future Money Acquisition has a 12-month low of $9.98 and a 12-month high of $10.33.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded Future Money Acquisition to a “hold” rating in a research note on Saturday, April 4th.
About Future Money Acquisition
Future Money Acquisition (NASDAQ: FMACU) is a special purpose acquisition company, commonly known as a blank‑check company, that completed an initial public offering of units and is organized to effect a business combination with one or more operating businesses. As a SPAC, its principal activity is to identify, evaluate and consummate mergers, capital stock exchanges, asset acquisitions, reorganizations or similar business combinations that would result in its transition to an operating company.
Like other SPACs, Future Money Acquisition typically holds the proceeds of its offering in a trust account pending the identification and closing of a qualifying transaction.
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