SIM Acquisition Corp. I (NASDAQ:SIMAW) Short Interest Up 236.5% in May

SIM Acquisition Corp. I (NASDAQ:SIMAW) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 838 shares, a growth of 236.5% from the April 30th total of 249 shares. Based on an average daily volume of 8,318 shares, the days-to-cover ratio is presently 0.1 days.

SIM Acquisition Corp. I Trading Down 15.9%

SIMAW stock traded down $0.04 during midday trading on Friday, hitting $0.19. The company’s stock had a trading volume of 50,290 shares, compared to its average volume of 36,040. SIM Acquisition Corp. I has a 12 month low of $0.13 and a 12 month high of $0.64. The company has a 50 day moving average of $0.23 and a two-hundred day moving average of $0.29.

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.