Why Virgin Galactic, Nikola, and Bloom Energy Stocks Jumped Tuesday

Motley Fool2021-06-23

Names with high short interest continue to be the focus of retail traders hoping for a short squeeze. What happened The stocks of companies that could make potential short squeeze candidates continue...

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Comments

thezo
2021-06-24
thezo
???
Xuanlx
2021-06-23
Xuanlx
Okay
Foros
2021-06-23
Foros
Ok
Vic_yk
2021-06-23
Vic_yk
Wow
Reverieofd
2021-06-23
Reverieofd
bloom energy fell a lot
Ruzzer
2021-06-23
Ruzzer
Good

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Tuesday, three speculative names with high short interest are jumping higher. Shares of space tourism companyVirgin Galactic Holdings(NYSE:SPCE), electric vehicle hopefulNikola(NASDAQ:NKLA), and hydrogen fuel cell makerBloom Energy(NYSE:BE)all jumped Tuesday. As of 3:35 p.m. EDT:\n\nVirgin Galactic was up 9.2%\nNikola was up 7.7%\nBloom Energy was up 4.5%\n\nSo what\nWith its share price trading around $40, it's notable that the July 16, 2021 $100 call options on Virgin Galactic had some of the highest implied volatility of all equity options Tuesday, according to Yahoo! Finance. Along with trading volume already more than double the 60-day daily average, this implies traders are hoping shares surge more than 150% to record highs in just the next three weeks.\nPart of the thinking of traders in Virgin Galactic call options may be that high short interest in the stock could set shares up to move higher. As of late May, 28% of the public share float was sold short. Retail traders likely are hoping for ashort squeezesimilar to what occurred in other meme stocks. Similarly, Nikola and Bloom Energy had a respective 32% and 12% of their floats sold short, according to data from MarketWatch.\nNow what\nEach of these stocks is speculative, and Virgin Galactic and Nikola aren't yet even bringing in revenue. Nothing of note was announced by these companies Tuesday to explain the stock movement. Nikola did file a Securities and Exchange Commission statement registering more than 18 million shares for potential sale. But that was related to capital it recently raised through a private deal, and any proceeds from the newly registered shares would be going to the stockholder, and not the company.\nInvestors may be interested in Bloom Energy Tuesday because of a quarterly financial release from fellow hydrogen fuel cell technology companyPlug Power (NASDAQ:PLUG).That report was a mix of strong sales growthoffset by continued net losses from that company. A growing hydrogen economy would be good news for Bloom, and company management expressed optimism in its recently released first quarter report for the period ended March 31, 2021. Revenue growth was also strong, and Bloom Energy CFO Greg Cameron said in a statement, \"We are confident in our guidance and are on the way to being a $1 billion revenue business that is well positioned for future growth.\"\nBut Tuesday's stock action seems more likely influenced by retail traders looking to turn high short interest into a rising stock price if shorts areforced to cover sold shares. For long-term investors, this type of move isn't critical to an investing thesis -- even for speculative stocks like these.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":121503920,"gmtCreate":1624469220660,"gmtModify":1703837781740,"author":{"id":"3569292069818603","authorId":"3569292069818603","name":"thezo","avatar":"https://community-static.tradeup.com/news/f75c21429d870797bf6296aaf485c3b6","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3569292069818603","idStr":"3569292069818603"},"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121503920","repostId":1140539864,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121971758,"gmtCreate":1624451870674,"gmtModify":1703837068652,"author":{"id":"3575538899414489","authorId":"3575538899414489","name":"Xuanlx","avatar":"https://static.tigerbbs.com/40e89b303dfec9b3b8b7fe4fc517cff5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3575538899414489","idStr":"3575538899414489"},"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121971758","repostId":1140539864,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123474595,"gmtCreate":1624437010717,"gmtModify":1703836650720,"author":{"id":"3574156765565189","authorId":"3574156765565189","name":"Foros","avatar":"https://static.tigerbbs.com/4aab8cbc5838ac3992a3d449f933303e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574156765565189","idStr":"3574156765565189"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123474595","repostId":1140539864,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123459661,"gmtCreate":1624435958553,"gmtModify":1703836612357,"author":{"id":"3581738574656138","authorId":"3581738574656138","name":"Vic_yk","avatar":"https://static.tigerbbs.com/a6956fe8619a628c2db9e1c2e265981c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3581738574656138","idStr":"3581738574656138"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123459661","repostId":1140539864,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123460384,"gmtCreate":1624434959148,"gmtModify":1703836581361,"author":{"id":"3565303645350919","authorId":"3565303645350919","name":"Reverieofd","avatar":"https://static.tigerbbs.com/e7f714e26f5e52fd78bcf32b98ce492a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3565303645350919","idStr":"3565303645350919"},"htmlText":"bloom energy fell a lot&nbsp;","listText":"bloom energy fell a lot&nbsp;","text":"bloom energy fell a lot","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123460384","repostId":1140539864,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123432982,"gmtCreate":1624433654946,"gmtModify":1703836546261,"author":{"id":"3564564201334764","authorId":"3564564201334764","name":"Ruzzer","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3564564201334764","idStr":"3564564201334764"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123432982","repostId":1140539864,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":21,"commentSize":13,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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