PropTech Acquisition Co. (NASDAQ:PTAC) Sees Large Decline in Short Interest

PropTech Acquisition Co. (NASDAQ:PTAC) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 32 shares, a decrease of 77.5% from the August 31st total of 142 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 805 shares, the days-to-cover ratio is presently 0.0 days.

PropTech Acquisition Stock Performance

PropTech Acquisition stock traded up $0.05 on Friday, hitting $10.01. 223 shares of the stock traded hands, compared to its average volume of 54,651. The business’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $7.57. PropTech Acquisition has a 1 year low of $9.74 and a 1 year high of $10.10.

About PropTech Acquisition

PropTech Acquisition Corporation was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology, property services, or related sectors. As a blank-check company, it did not operate a substantial standalone product or service business before completing its transaction.

PropTech Acquisition Corporation completed a business combination with Porch.com in 2020. Following the transaction, Porch became the operating company, providing software and services designed to support the residential real estate industry, including solutions for homebuyers, home sellers, real estate professionals, and service providers.

After the merger, the combined company operated under the Porch name and its securities traded under Porch-related symbols.