Arcimoto called out for high short squeeze potential
Arcimoto (NASDAQ:FUV) landed on the Fintel Short Squeeze watch list this week.
Arcimoto (FUV) is fourth on this week’s list of stock with the biggest short squeeze potential. Fintel noted that raw short interest reported by Nasdaq at 10.95M shares, an increase of 11.73% in the month and comprising 37.33% of the total float. The cost to borrow shares is 16.15%.
Last month, Arcimoto (FUV) and Faction Technology showcased a next-generation driverless delivery vehicle based on the Arcimoto Platform at the new Arcimoto RAMP manufacturing facility in Eugene, Oregon. The driverless vehicle system retains the Arcimoto FUV’s capabilities of a 75 mph top speed and just over 100 miles of range while transporting up to 500 pounds of cargo
Shares of Arcimoto (FUV) shed 3.59% premarket on Monday and have fallen 17.61% on year-to-date basis.