East West Ave Acquisition Corp. (NASDAQ:EWAVU – Get Free Report) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 186 shares, a drop of 79.9% from the September 30th total of 924 shares. Based on an average trading volume of 1,036 shares, the days-to-cover ratio is presently 0.2 days.
East West Ave Acquisition Price Performance
NASDAQ EWAVU traded up $0.06 during trading on Thursday, reaching $10.06. 16,675 shares of the company’s stock were exchanged, compared to its average volume of 58,193. The stock has a 50 day simple moving average of $10.03. East West Ave Acquisition has a 1 year low of $9.91 and a 1 year high of $10.40.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded East West Ave Acquisition to a “hold” rating in a research note on Saturday, August 15th.
Read Our Latest Stock Report on East West Ave Acquisition
Insider Buying and Selling
In related news, insider Space Summit Capital Llc bought 1,087,000 shares of the stock in a transaction on Friday, July 31st. The stock was bought at an average price of $10.00 per share, with a total value of $10,870,000.00. Following the completion of the purchase, the insider directly owned 1,087,000 shares in the company, valued at $10,870,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
About East West Ave Acquisition
We are a newly organized blank check company formed as a Nevada corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Throughout this prospectus we will refer to this as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.
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