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Merchants are more and more betting in opposition to struggling electrical automobile maker Nikola . FactSet information confirmed quick curiosity in Nikola elevated by 12% to 97.4 million shares. That represents greater than 35% of the shares accessible for buying and selling. Nikola shares have taken a beating in 2022, shedding roughly 67%. The inventory has additionally fallen about 96% since hitting a closing excessive of $79.73 on June 9, 2020. To make sure, BTIG’s Gregory Lewis thinks the inventory can bounce from present ranges. The analyst final month upgraded Nikola to purchase from impartial and slapped a $12 worth goal. “We imagine NKLA is effectively positioned to profit from growing demand to decarbonize the Class 8 truck market. NKLA plans to roll out its FCEV (gas cell electrical automobile) subsequent 12 months and continues to develop its H2 fueling infrastructure community in North America (presently has no stations),” Lewis mentioned. Brief curiosity in Carvana additionally rose by 10% to 34.6 million shares, or about 36% of the general float. Buyers additionally mounted bets in opposition to Wayfair , with quick curiosity rising 14% to 21.2 million shares. Try the complete listing of closely shorted shares beneath. (Observe: The desk contains shares traded on the NASDAQ or NYSE exchanges with quick curiosity better than 25% of their whole float and no less than $100 million in market cap. Brief curiosity information is up to date twice a month and reported mid-month and on the finish of the month. These figures are present as of Oct. 14 as reported by the exchanges, by way of FactSet. The subsequent launch date is Nov. 9 for brief curiosity information as of Oct. 31).
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