Rainier Acquisition Corporation (NASDAQ:RNAQ) Sees Large Growth in Short Interest

Rainier Acquisition Corporation (NASDAQ:RNAQ) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 2,075 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 7,559 shares, the short-interest ratio is presently 0.3 days.

Rainier Acquisition Price Performance

Rainier Acquisition stock traded up $0.01 during midday trading on Friday, hitting $10.03. 1,082 shares of the company’s stock were exchanged, compared to its average volume of 3,946. Rainier Acquisition has a 12-month low of $10.00 and a 12-month high of $10.50.

Rainier Acquisition Company Profile

Rainier Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to pursue a business combination with an operating company. Its potential transactions may include a merger, acquisition, stock purchase, reorganization or similar combination.

Unlike an operating business, Rainier Acquisition Corp. does not have a portfolio of products or services for customers. Its principal activities center on identifying and evaluating potential acquisition targets, negotiating a transaction and completing a business combination that could result in the target becoming a publicly traded company.

Publicly available information about Rainier Acquisition Corp.’s specific target industries, geographic markets and leadership is limited.