Digital Asset Acquisition Corp. (NASDAQ:DAAQW) Stock Short Interest Drops 47.4%

Digital Asset Acquisition Corp. (NASDAQ:DAAQW) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 6,259 shares, a decrease of 47.4% from the September 30th total of 11,897 shares. Based on an average daily volume of 48,108 shares, the short-interest ratio is presently 0.1 days.

Digital Asset Acquisition Price Performance

Shares of NASDAQ DAAQW traded down $0.10 during midday trading on Friday, reaching $0.14. 14,810 shares of the stock were exchanged, compared to its average volume of 19,369. Digital Asset Acquisition has a twelve month low of $0.08 and a twelve month high of $0.80. The firm has a 50-day simple moving average of $0.16 and a two-hundred day simple moving average of $0.33.

About Digital Asset Acquisition

Digital Asset Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a business combination with one or more businesses. The company was established to identify a target in the digital-asset, financial-technology, blockchain, or related sectors, although its public filings indicate that it did not operate a conventional business or offer products and services of its own.

As a blank-check company, Digital Asset Acquisition Corp.’s activities primarily involved raising capital through a public offering, placing those funds in a trust account, and evaluating potential merger or acquisition opportunities.