Melar Acquisition Corp. I (NASDAQ:MACIU – Get Free Report) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 230 shares, a growth of ∞ from the May 14th total of 0 shares. Based on an average trading volume of 2,240 shares, the days-to-cover ratio is presently 0.1 days.
Melar Acquisition Corp. I Stock Performance
MACIU remained flat at $11.10 during trading on Friday. 9 shares of the company traded hands, compared to its average volume of 2,099. Melar Acquisition Corp. I has a 1-year low of $10.49 and a 1-year high of $20.00. The stock has a 50 day moving average of $11.74 and a 200-day moving average of $11.19.
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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