Indigo Acquisition Corp. (NASDAQ:INACR – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 994 shares, a drop of 62.1% from the August 15th total of 2,625 shares. Based on an average trading volume of 4,921 shares, the short-interest ratio is currently 0.2 days.
Indigo Acquisition Stock Performance
INACR remained flat at $0.09 on Friday. Indigo Acquisition has a 12 month low of $0.09 and a 12 month high of $0.24. The company has a 50 day simple moving average of $0.12 and a two-hundred day simple moving average of $0.13.
Indigo Acquisition Company Profile
Indigo Acquisition (NASDAQ: INACR) is a special purpose acquisition company (SPAC), sometimes called a blank-check company, formed to raise capital through a public offering and to effect a merger, share exchange, asset acquisition or other business combination with one or more operating businesses. As a SPAC, its primary corporate purpose is to identify and complete a qualifying transaction that enables a private company to become publicly listed through a de-SPAC process.
The company’s principal activities include sourcing potential targets, conducting due diligence, negotiating transaction terms, and arranging the financing necessary to complete a business combination.
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