Southern Cross Acquisition II Corp. (NASDAQ:SCATU) Sees Large Decline in Short Interest

Southern Cross Acquisition II Corp. (NASDAQ:SCATU) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 610 shares, a decrease of 96.9% from the September 30th total of 19,782 shares. Based on an average daily volume of 19,018 shares, the short-interest ratio is currently 0.0 days.

Southern Cross Acquisition II Trading Up 0.0%

Shares of SCATU traded up $0.00 on Wednesday, reaching $10.01. The company’s stock had a trading volume of 23,213 shares, compared to its average volume of 30,918. The company’s 50 day moving average price is $10.02. Southern Cross Acquisition II has a 12-month low of $9.99 and a 12-month high of $11.00.

Southern Cross Acquisition II Company Profile

Southern Cross Acquisition II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, reorganization or similar transaction, with one or more operating businesses.

As a SPAC, the company does not have an established commercial product line or ongoing operating business. Its activities are primarily focused on raising capital through an initial public offering, evaluating potential acquisition targets and negotiating a transaction that would allow a private company to become publicly traded.

Southern Cross Acquisition II’s securities trade on the Nasdaq under the symbol SCATU.