Gigcapital8 Corp. (NASDAQ:GIWWR – Get Free Report) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 12,373 shares, an increase of 82.1% from the July 30th total of 6,794 shares. Based on an average daily volume of 6,674 shares, the days-to-cover ratio is presently 1.9 days.
Gigcapital8 Stock Performance
Shares of Gigcapital8 stock opened at $0.25 on Tuesday. The company has a 50-day simple moving average of $0.28 and a two-hundred day simple moving average of $0.30. Gigcapital8 has a one year low of $0.21 and a one year high of $0.45.
Gigcapital8 Company Profile
GigCapital8 (NASDAQ: GIWWR) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition or other business combination with one or more businesses. As a blank‑check vehicle, GigCapital8 does not operate an ongoing commercial business prior to completing a qualifying business combination; its principal activity is identifying and negotiating a combination with a target company that will permit the combined entity to become publicly listed.
Like other SPACs, GigCapital8 holds the proceeds of its offering in a trust account invested in cash and cash equivalents or short‑term government instruments until a business combination is completed or the trust is liquidated.
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