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S3 Companions reported that buyers are nonetheless actively shorting electrical car shares even with shares costs down considerably from the start of the yr.
Rivian Automotive Inc (NASDAQ:RIVN) had the biggest enhance in shares shorted during the last thirty days following the automaker’s recall of over 12K autos attributable to steering points.
The excessive stage of brief curiosity within the sector additionally creates some potential for brief squeeze rally if sentiment have been to go in reverse rapidly. With that in thoughts, S3 Companions analyst Ivan Dusaniwsky created a rating of probably the most crowded shorts based mostly on elements like complete brief {dollars} in danger, brief curiosity as a real proportion of an organization’s tradable float, inventory mortgage liquidity and buying and selling liquidity.
Primarily based on the agency’s proprietary scoring methodology, the EV shares with the very best likelihood of seeing a brief squeeze rally are Lucid Group (LCID), Fisker (FSR), Hyzon Motors (HYZN), Lightning eMotors (ZEV), Nikola (NKLA), and Workhorse Group (WKHS).
Dusaniwsky reminded that having a excessive Squeeze Rating doesn’t assure {that a} inventory will likely be squeezed, however famous that it does spotlight shares which have a a lot greater squeeze potential than most different shares out there.
Learn the broad market replace for Friday morning.
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