Southern Cross Acquisition II Corp. (NASDAQ:SCATU) Stock Short Interest Drops 96.9%

Southern Cross Acquisition II Corp. (NASDAQ:SCATU) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 610 shares, a decline of 96.9% from the September 30th total of 19,782 shares. Based on an average daily trading volume, of 19,018 shares, the days-to-cover ratio is presently 0.0 days.

Southern Cross Acquisition II Stock Up 0.2%

SCATU stock traded up $0.02 on Tuesday, reaching $10.02. 14,139 shares of the company’s stock were exchanged, compared to its average volume of 30,658. Southern Cross Acquisition II has a twelve month low of $9.99 and a twelve month high of $11.00.

Southern Cross Acquisition II Company Profile

Southern Cross Acquisition II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, reorganization or similar transaction, with one or more operating businesses.

As a SPAC, the company does not have an established commercial product line or ongoing operating business. Its activities are primarily focused on raising capital through an initial public offering, evaluating potential acquisition targets and negotiating a transaction that would allow a private company to become publicly traded.

Southern Cross Acquisition II’s securities trade on the Nasdaq under the symbol SCATU.