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Electric-vehicle stocks Fisker , Workhorse and Blink Charging have struggled mightily in 2023. Traders are betting those companies will keep falling. Short interest on Fisker increased by 12% to 68 million shares from March 31 to April 14, FactSet data shows. That’s nearly 40% of Fisker’s free float of shares, or the stock available for trading. Meanwhile, Workhorse, which makes electric delivery vans, has seen short interest increase by 10% to nearly 47 million shares, or roughly 28% of its float. Charging station builder Blink Charging’s short interest rose to 27% of its float, or 13.5 million shares. Those increases in short interest come as all three names have taken a beating this year. Fisker is down 14%. Workhorse and Blink have fallen more than 30% each. These names have also been under pressure over the past year, as higher interest rates made shares of unprofitable companies that can only promise future earnings, less attractive to investors. BLNK YTD mountain BLNK in 2023 Another heavily shorted stock in the EV sector is Mobileye Global . The company, which develops software for assisted and autonomous driving, has roughly 24% of its shares sold short. On Thursday, it fell more than 20% after Mobileye cut its full-year revenue guidance. Artificial intelligence company C3.ai also saw an 11% spike in short interest, with 31 million of its shares sold short. The stock is up more than 50% year to date, as investors look for ways to capitalize on the recent AI-led tech boom. However, it’s down 47% this month after short seller Kerrisdale Capital raised several concerns about “highly conspicuous growth in unbilled receivables” at C3.ai, as well as “opaque, confusing … disclosures and financials related to the company’s related party and very large customer, Baker Hughes.” C3.ai responded to Kerrisdale’s attack, saying in a statement : “The Kerrisdale letter appears to be a highly creative and transparent attempt by a self-acclaimed short seller to short the stock, publish an inflammatory letter to move the stock price downward, then cover the short and pocket the profits.” Here are the most shorted stocks from March 31 to April 14. All names trade on the NYSE or Nasdaq, have short positions amounting to at least 25% of their total float and have market values of at least $100 million.
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