TCGX Acquisition Corp. (NASDAQ:TCGX – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 53,161 shares, a growth of 21,164.4% from the September 15th total of 250 shares. Based on an average trading volume of 18,178 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.6% of the shares of the stock are sold short.
TCGX Acquisition Stock Performance
Shares of TCGX traded up $0.48 during trading hours on Friday, hitting $12.51. 895 shares of the stock were exchanged, compared to its average volume of 55,714. TCGX Acquisition has a 12-month low of $10.30 and a 12-month high of $18.91. The stock has a 50-day moving average price of $13.77.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of TCGX Acquisition to a “hold” rating in a research report on Saturday, August 15th.
About TCGX Acquisition
TCGX Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Potential transactions may include a merger, share purchase, asset acquisition, reorganization or similar corporate transaction.
Unlike an operating company, TCGX Acquisition does not appear to provide products or services directly to customers. Its activities are focused on evaluating potential acquisition targets and completing an initial business combination, after which the combined company would conduct the underlying operating business.
Publicly available information about the company’s specific target industry, geographic markets and long-term operating plans is limited.
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