5 Short Squeeze Stocks In Play Thursday: Nikola, Verve, Carvana, More
Portfolio Pulse from Piero Cingari
Shares of Nikola Corp. (NKLA), Verve Therapeutics (VERV), Carvana Co. (CVNA), Zentalis Pharmaceuticals (ZNTL), and C3.ai (AI) experienced massive price increases on Thursday, with gains of over 10% each, indicating a potential short squeeze. These companies have a short interest to equity float ratio of 15% to 45%, making them among the most heavily shorted in the market.
June 15, 2023 | 7:41 pm
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C3.ai's stock price rose 10% on Thursday, with a 28.4% short interest. The stock is up 18% this month and by a staggering 321% since the beginning of the year.
The 10% price increase on Thursday and a 28.4% short interest in C3.ai indicate a potential short squeeze. The stock's strong performance this month and year-to-date could lead to further gains in the short term as short sellers cover their positions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Carvana's stock price rose 15% on Thursday, with a 45% short interest making it the most-shorted stock in the Russell 1000 index. The stock is up 108% this month and 470% higher since the beginning of the year.
Carvana's 15% price increase on Thursday and its high short interest of 45% indicate a potential short squeeze. The stock's impressive performance this month and year-to-date suggests further gains in the short term as short sellers cover their positions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nikola Corp.'s stock price skyrocketed 30% on Thursday, marking its greatest single-day performance since Sept. 8, 2020. The stock is up 125% this month but still down 35% since the beginning of the year.
The massive price increase of 30% on Thursday indicates a potential short squeeze, which could lead to further upward momentum in the short term. With a 15.8% short interest, the stock may continue to experience buying pressure as short sellers cover their positions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Verve Therapeutics' stock price soared 16% on Thursday, marking its best single-day performance since November 2022. The stock is up 105% this month but only 2.2% higher since the beginning of the year.
The 16% price increase on Thursday suggests a potential short squeeze, with a 20% short interest in Verve Therapeutics. The stock's strong performance this month could lead to further gains in the short term as short sellers cover their positions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Zentalis Pharmaceuticals' stock price rose 14% on Thursday, marking its greatest single-day performance in over a year. The stock is up 8% this month and by 39% since the beginning of the year.
The 14% price increase on Thursday and a 20.7% short interest in Zentalis Pharmaceuticals suggest a potential short squeeze. The stock's recent performance could lead to further gains in the short term as short sellers cover their positions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100