Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) Short Interest Down 81.1% in August

Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 1,126 shares, a decrease of 81.1% from the July 30th total of 5,958 shares. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is presently 0.0 days.

Southern Cross Acquisition I Stock Performance

NCOOU remained flat at $10.02 during trading on Thursday. 25,740 shares of the company’s stock were exchanged, compared to its average volume of 48,823. Southern Cross Acquisition I has a 1 year low of $9.99 and a 1 year high of $10.82.

Southern Cross Acquisition I is a blank check company, also known as a special purpose acquisition company (SPAC), formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

As a SPAC, the company does not have ongoing commercial operations of its own and is focused on identifying and completing an initial acquisition opportunity. Its business strategy is typically to target companies across a range of industries and geographies, depending on the terms of its formation documents and the expertise of its management team.

Publicly available details about Southern Cross Acquisition I’s specific target sector, historical operating background, and broader geographic focus are limited.