ARVL - Heavily-shorted EV startup Arrival surges to over 100% gain

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%, 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 .

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