ARC Group Securities Acquisition I (NASDAQ:FJDIU) Stock Short Interest Drops 62.6%

ARC Group Securities Acquisition I (NASDAQ:FJDIU) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 2,037 shares, a decline of 62.6% from the September 30th total of 5,442 shares. Based on an average daily volume of 1,227 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded ARC Group Securities Acquisition I to a “hold” rating in a research report on Saturday, August 15th.

ARC Group Securities Acquisition I Price Performance

FJDIU stock traded down $0.00 during midday trading on Friday, reaching $10.03. ARC Group Securities Acquisition I has a 12 month low of $9.95 and a 12 month high of $10.20. The stock’s 50-day simple moving average is $10.01.

ARC Group Securities Acquisition I Company Profile

ARC Group Securities Acquisition I is a special purpose acquisition company, or SPAC, listed on the Nasdaq under the symbol FJDIU. The company was formed to raise capital through an initial public offering and pursue a business combination with one or more private companies.

Unlike an operating company, ARC Group Securities Acquisition I does not have established commercial products, services, or ongoing business operations. Its activities are focused on identifying a suitable merger, acquisition, share exchange, or similar transaction that could provide a private business with access to the public markets.

The company has not publicly identified a completed transaction or a specific target industry or geographic market in the information available.