These are the most heavily shorted stocks on Wall Street, including two EV charging names

Bets against electric vehicle charging stocks EVgo and Blink Charging are piling up. FactSet data showed that, as of Oct. 31, short interest as a percentage of float on EVgo and Blink has risen to 32% and 28%, respectively. Short interest as a percentage of float refers to the amount of shares available for trading that are being bet against. EVgo and Blink have struggled this year, with the former losing 25% in 2022 while the latter has shed 46%.

The company also said it sees a larger-than-forecast adjusted EBITDA loss for 2022. Meanwhile, Blink Charging reported top and bottom line numbers that marginally beat StreetAccount estimates. However, both stocks popped Friday. Shares of EVgo traded about 2% higher, while Blink advanced 4%. Those gains could be indicative of traders covering short positions, one of the catalysts cited by some market participants for Thursday's broad rally.

Hey cnbc, please mark your tweets as “PRO” when the are paywalled like this one.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Surges 000 Points as CPI Report Shows Inflation Eased to 7.7% in OctoberThe Dow climbed more than 1,000 points on signs of easing inflation and hopes the Fed would slow the pace of rate increases dissapointing to republicans? Didn't the Fed say they will hold interests high for a while till they are sure interest rates stay low? The current stock rally will probably add to their resolve.
Source: WSJ - 🏆 98. / 63 Read more »