Iron Dome Acquisition I Corp. (NASDAQ:IDACU) Sees Large Increase in Short Interest

Iron Dome Acquisition I Corp. (NASDAQ:IDACU) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 8,170 shares, an increase of ∞ from the May 14th total of 0 shares. Based on an average trading volume of 59,972 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Iron Dome Acquisition I to a “hold” rating in a research note on Saturday, May 23rd.

Iron Dome Acquisition I Stock Performance

Shares of NASDAQ:IDACU opened at $10.06 on Friday. Iron Dome Acquisition I has a 52 week low of $9.98 and a 52 week high of $10.51.

About Iron Dome Acquisition I

Iron Dome Acquisition I is a special purpose acquisition company, or SPAC, formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Like other blank-check companies, it does not operate a traditional commercial business itself and is focused on identifying and completing an initial transaction with a target company.

As a SPAC, Iron Dome Acquisition I’s activities are centered on capital raising, evaluating potential acquisition targets, and negotiating a business combination.