Short Interest in Melar Acquisition Corp. I (NASDAQ:MACIU) Grows By ∞

Melar Acquisition Corp. I (NASDAQ:MACIU) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 111 shares, an increase of ∞ from the June 30th total of 0 shares. Based on an average daily volume of 11 shares, the days-to-cover ratio is presently 10.1 days.

Melar Acquisition Corp. I Stock Performance

NASDAQ:MACIU remained flat at $11.30 during mid-day trading on Wednesday. 285 shares of the company traded hands, compared to its average volume of 1,966. Melar Acquisition Corp. I has a twelve month low of $10.49 and a twelve month high of $20.00. The stock has a fifty day simple moving average of $11.96 and a 200 day simple moving average of $11.28.

Melar Acquisition Corp. I Company Profile

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.