PropTech Acquisition Co. (NASDAQ:PTAC) Sees Significant Drop in Short Interest

PropTech Acquisition Co. (NASDAQ:PTAC) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 32 shares, a decline of 77.5% from the August 31st total of 142 shares. Based on an average daily trading volume, of 805 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

PropTech Acquisition Trading Up 0.5%

Shares of NASDAQ:PTAC traded up $0.05 during trading hours on Friday, hitting $10.01. The company’s stock had a trading volume of 223 shares, compared to its average volume of 54,651. PropTech Acquisition has a 52 week low of $9.74 and a 52 week high of $10.10. The firm’s fifty day moving average price is $8.19 and its 200 day moving average price is $7.57.

PropTech Acquisition Company Profile

PropTech Acquisition Corporation was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology, property services, or related sectors. As a blank-check company, it did not operate a substantial standalone product or service business before completing its transaction.

PropTech Acquisition Corporation completed a business combination with Porch.com in 2020. Following the transaction, Porch became the operating company, providing software and services designed to support the residential real estate industry, including solutions for homebuyers, home sellers, real estate professionals, and service providers.

After the merger, the combined company operated under the Porch name and its securities traded under Porch-related symbols.