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.
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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