Mercator Acquisition Corp. (NASDAQ:MRCOU – Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 451 shares, a drop of 55.9% from the September 15th total of 1,023 shares. Based on an average daily volume of 47 shares, the days-to-cover ratio is currently 9.6 days.
Mercator Acquisition Stock Performance
MRCOU remained flat at $9.98 during midday trading on Tuesday. 192,913 shares of the company’s stock traded hands, compared to its average volume of 82,053. Mercator Acquisition has a 12-month low of $9.98 and a 12-month high of $10.05. The stock has a 50 day moving average of $10.03.
About Mercator Acquisition
Mercator Acquisition Corporation is a blank-check company, also known as a special purpose acquisition company (SPAC). Rather than operating a conventional commercial business, the company was formed to identify and complete a merger, stock purchase, asset acquisition, reorganization or similar business combination with one or more target companies.
Its activities are primarily focused on evaluating potential acquisition opportunities, raising capital through its public offering and holding those proceeds while it searches for a suitable transaction.
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