As of Feb 15, 2024, Phoenix Biotech Acquisition Corp. has 1,804 shares failed to deliver, representing 22.33% of the average daily volume of 8,080 shares. Over the past year, the monthly average FTD is 610 shares, with the current level 196% above the historical average, indicating elevated settlement pressure. The weighted FTD ratio above 1% suggests potential liquidity constraints or heightened short-selling activity.