Indigo Acquisition Corp. (NASDAQ:INACR – Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 323 shares, a drop of 41.9% from the September 30th total of 556 shares. Based on an average daily volume of 2,073 shares, the days-to-cover ratio is presently 0.2 days.
Indigo Acquisition Stock Performance
Shares of INACR traded up $0.00 during trading hours on Monday, reaching $0.08. 148,075 shares of the company’s stock traded hands, compared to its average volume of 12,162. The firm’s 50 day simple moving average is $0.09 and its 200-day simple moving average is $0.13. Indigo Acquisition has a 12 month low of $0.07 and a 12 month high of $0.20.
Indigo Acquisition Company Profile
Indigo Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its activities are focused on evaluating potential merger, acquisition, or similar transactions rather than developing and selling products or services of its own.
As a blank-check company, Indigo Acquisition’s operations generally consist of searching for a suitable target, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for a proposed business combination.
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