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 - Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 2,200 shares, an increase of 633.3% from the August 15th total of 300 shares. Based on an average trading volume of 9,600 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company's stock are sold short. Approximately 0.1% of the company's stock are sold short. Based on an average trading volume of 9,600 shares, the short-interest ratio is currently 0.2 days.

Southport Acquisition Trading Down 56.5%

PORT stock traded down $15.30 during trading on Tuesday, reaching $11.80. The stock had a trading volume of 145,207 shares, compared to its average volume of 4,570. Southport Acquisition has a one year low of $9.50 and a one year high of $60.00. The company's 50 day moving average is $20.65 and its two-hundred day moving average is $14.79.

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.