Research Alliance Corporation IV (NASDAQ:RACD) Shares Shorted: Short Interest Up 1,222.2% in October

Research Alliance Corporation IV (NASDAQ:RACD) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 2,208 shares, an increase of 1,222.2% from the October 15th total of 167 shares. Based on an average daily volume of 13,690 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Research Alliance Corporation IV to a “hold” rating in a report on Saturday, July 18th.

Research Alliance Corporation IV Stock Performance

Shares of RACD stock traded up $0.12 during mid-day trading on Thursday, hitting $10.48. The company had a trading volume of 243 shares, compared to its average volume of 12,860. The company has a 50 day simple moving average of $11.31. Research Alliance Corporation IV has a 52-week low of $10.00 and a 52-week high of $13.64.

About Research Alliance Corporation IV

Research Alliance Corporation IV (NASDAQ: RACD) is a special purpose acquisition company, commonly known as a blank-check company. Its primary objective is to identify and complete a business combination, such as a merger, acquisition, stock purchase or similar transaction, with one or more operating companies. As a SPAC, Research Alliance Corporation IV does not have established commercial operations, products or services of its own. Until it completes a business combination, its activities generally consist of evaluating potential target companies, conducting due diligence and pursuing transaction-related matters.