Southport Acquisition Co. (NYSE:PORT) Short Interest Up 633.3% in August

Key Points

• The short interest for Southport Acquisition Co. (NYSE:PORT) surged by 633.3% in August, totaling 2,200 shares compared to only 300 shares on August 15th.
• PORT stock experienced a significant decline of 56.5%, trading down to $11.80, after hitting a 1-year high of $60.00.
• Southport Acquisition focuses on completing mergers and acquisitions in the financial software sector, particularly in the mortgage and real estate areas within the United States.

Southport Acquisition Co. (NYSE:PORT - ) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 2,200 shares, a growth of 633.3% from the August 15th total of 300 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 9,600 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 9,600 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Southport Acquisition Stock Down 56.5%

PORT stock traded down $15.30 on Thursday, hitting $11.80. 145,207 shares of the company's stock traded hands, compared to its average volume of 4,570. Southport Acquisition has a 1-year low of $9.50 and a 1-year high of $60.00. The stock has a fifty day moving average of $20.64 and a 200-day moving average of $14.75.

Southport Acquisition Company Profile

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to acquire businesses in the field of financial software with a focus on mortgage and real estate verticals in the United States.

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