Future Money Acquisition Corp (NASDAQ:FMACU – Get Free Report) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 469 shares, a drop of 58.9% from the April 15th total of 1,142 shares. Based on an average daily trading volume, of 25,486 shares, the days-to-cover ratio is currently 0.0 days.
Future Money Acquisition Stock Up 0.1%
Shares of FMACU traded up $0.01 during trading hours on Friday, hitting $10.06. The stock had a trading volume of 41,750 shares, compared to its average volume of 56,525. Future Money Acquisition has a 12 month low of $9.98 and a 12 month high of $10.10.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded Future Money Acquisition to a “hold” rating in a research note on Saturday, April 4th.
Future Money Acquisition Company Profile
Future Money Acquisition (NASDAQ: FMACU) is a special purpose acquisition company, commonly known as a blank‑check company, that completed an initial public offering of units and is organized to effect a business combination with one or more operating businesses. As a SPAC, its principal activity is to identify, evaluate and consummate mergers, capital stock exchanges, asset acquisitions, reorganizations or similar business combinations that would result in its transition to an operating company.
Like other SPACs, Future Money Acquisition typically holds the proceeds of its offering in a trust account pending the identification and closing of a qualifying transaction.
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