Gigcapital8 Corp. (NASDAQ:GIWWR – Get Free Report) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 30,521 shares, a growth of 111.2% from the April 30th total of 14,454 shares. Based on an average trading volume of 47,771 shares, the days-to-cover ratio is currently 0.6 days.
Gigcapital8 Price Performance
Shares of GIWWR opened at $0.34 on Monday. The firm’s 50 day simple moving average is $0.30. Gigcapital8 has a 12 month low of $0.25 and a 12 month high of $0.45.
Gigcapital8 Company Profile
GigCapital8 (NASDAQ: GIWWR) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition or other business combination with one or more businesses. As a blank‑check vehicle, GigCapital8 does not operate an ongoing commercial business prior to completing a qualifying business combination; its principal activity is identifying and negotiating a combination with a target company that will permit the combined entity to become publicly listed.
Like other SPACs, GigCapital8 holds the proceeds of its offering in a trust account invested in cash and cash equivalents or short‑term government instruments until a business combination is completed or the trust is liquidated.
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