A number of highly-shorted stocks in the consumer sector rallied on Thursday morning with risk-on sentiment appearing to be back on following the FOMC meeting and as investors weed their way through the Q4 earnings season. The rally coincides with a strong day for tech and crypto moving higher once again.
Of the consumer sector stocks with short interest standing at more than 20% of total float, movers included Carvana ( NYSE: CVNA ) +21.11% , EVgo ( EVGO ) +6.05% , Wayfair ( W ) +3.33% , Beyond Meat ( BYND ) +15.97%, Blink Charging ( BLNK ) +4.15% , Big Lots ( BIG ) +6.18% , Workhorse Group ( WKHS ) +7.33% , Root ( ROOT ) +9.45% , and Nikola ( NKLA ) +3.75% .
Bed Bath & Beyond ( BBBY ) jumped 11.52% despite the retailer missing key debt payments and longtime battleground stock GameStop ( GME ) rose 4.05% and trades at its highest level of 2023.
Read why Seeking Alpha author Binary Tree Analytics thinks Carvana is likely to see an epic short squeeze rally. Place your own short squeeze rally candidate in the comments stream.
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Short squeeze rallies may be firing up again - watch these stocks