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However, the industry is crowded, with several fundamentally weak new entrants vying for market share. And shares of many of these companies have advanced based solely on investor optimism about the industry’s growth prospects. Because many of these stocks possess high short interest, the latest social media triggered short squeezes have also driven a rally by some of them.
Shares of fundamentally weak EV companies Arcimoto, Inc. (FUV) and Beam Global (BEEM) have a high percentage of short float, representing bearish investor sentiment. So, we think it is wise to avoid these two stocks now.
