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Arrival (NASDAQ:ARVL) stock roared to a triple-digit percentage gain on Thursday, leading a slew of heavily shorted stock rising during the day’s trading.
The stark 111.81% jump on Thursday bring the year-to-date gains north of 200%, bouncing sharply from a 52-week low marked just prior to the close of 2022. Trading volume on the day was trending near 550% of the daily average into afternoon trading.
According to Seeking Alpha data, short interest in the name stands at 21.95%.
Other popular shorts soaring on Thursday included Carvana (CVNA) +39.83%, Canoo (GOEV) +9.96%, Bed Bath & Beyond (BBBY) +32.36%, and Party City Holdco (PRTY) +32.37%. Both Party City and Bed Bath & Beyond are said to be nearing bankruptcy.
Read more on why Carvana may need to rise further for shorts to cover their bets.
