Melar Acquisition Corp. I (NASDAQ:MACIU) Sees Significant Growth in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACIU) saw a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 1,493 shares, a growth of 262.4% from the October 15th total of 412 shares. Based on an average daily trading volume, of 2,722 shares, the days-to-cover ratio is currently 0.5 days.

Melar Acquisition Corp. I Trading Down 1.9%

Shares of MACIU stock traded down $0.18 during trading hours on Thursday, hitting $9.38. 1,658 shares of the company were exchanged, compared to its average volume of 2,001. The firm has a fifty day simple moving average of $10.57 and a 200 day simple moving average of $11.09. Melar Acquisition Corp. I has a 52-week low of $7.58 and a 52-week high of $20.00.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company, or SPAC, formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. As a SPAC, the company does not have its own established operating business, products, or services. Its primary activity is identifying and completing a business combination. Information about a completed transaction, operating geographies, or the company’s leadership is not included here because it could not be reliably confirmed.