SIM Acquisition Corp. I (NASDAQ:SIMAW – Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 2,346 shares, a drop of 41.8% from the August 15th total of 4,031 shares. Based on an average daily volume of 3,078 shares, the days-to-cover ratio is currently 0.8 days.
SIM Acquisition Corp. I Stock Performance
NASDAQ:SIMAW traded up $0.00 during midday trading on Wednesday, reaching $0.16. The stock had a trading volume of 2,300 shares, compared to its average volume of 38,897. The firm has a fifty day simple moving average of $0.20 and a two-hundred day simple moving average of $0.24. SIM Acquisition Corp. I has a 12-month low of $0.13 and a 12-month high of $0.64.
SIM Acquisition Corp. I is a blank‐check company formed as a special purpose acquisition company (SPAC). Incorporated in Delaware, the company completed its initial public offering and commenced trading on the NASDAQ under the ticker symbol SIMAW.
The company’s sole business purpose is to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. To date, SIM Acquisition Corp. I has not announced any definitive acquisition targets or business combination agreements.
Proceeds from the company’s initial public offering are held in a trust account pending the completion of a business combination.
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