Future Money Acquisition Corp (NASDAQ:FMACU) Short Interest Up 299.9% in May

Future Money Acquisition Corp (NASDAQ:FMACU) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 3,867 shares, a growth of 299.9% from the May 14th total of 967 shares. Based on an average daily trading volume, of 96,784 shares, the days-to-cover ratio is currently 0.0 days.

Future Money Acquisition Price Performance

Shares of Future Money Acquisition stock traded up $0.05 during midday trading on Friday, hitting $10.15. 1,122 shares of the company were exchanged, compared to its average volume of 59,718. Future Money Acquisition has a 52 week low of $9.98 and a 52 week high of $10.33. The firm has a 50 day simple moving average of $10.08.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Future Money Acquisition to a “hold” rating in a research report 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.