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RIDE Stock Short Alert: Lordstown Motors Shares Rev Up on Short Interest

Lordstown Motors (NASDAQ:RIDE) stock is picking up speed on Wednesday as high short interest in the company is bringing in extra interest from traders.

A magnifying glass zooms in on the website for Lordstown Motors (RIDE Stock).

Source: Postmodern Studio / Shutterstock.com

Ihor Dusaniwsky, Managing Director at S3 Partners, took to Twitter (NYSE:TWTR) to highlight some of the details that investors need to know about the stock. He posted that short interest in the company is sitting at $203 million.

The high short interest in RIDE stock means it could be about to see a squeeze from traders. Retail traders love a good short-squeeze and the low entry point for RIDE stock makes it a strong candidate.

Of course, this also means we might see a surge in price for RIDE stock that quickly falls once retail traders are done with it. That’s one of the dangers that come with investing in penny stocks. So just make sure you aren’t left holding the bag at the end of all this.

In terms of trading volume, RIDE isn’t doing bad today. There’s also been some 10 million shares of the stock change hands as of this writing. That’s approaching the company’s daily average trading volume of about 11.1 million shares. We could see that number rise higher in the company days if a short-squeeze happens.

RIDE stock was up 9% as of Wednesday afternoon but is down 65.8% since the start of the year.

Investors looking for more hot stock market news don’t have to head far.

InvestorPlace has all the latest stock market coverage that traders need to know about. A few examples from today include what has shares of Hut 8 Mining (NASDAQ:HUT) stock falling, why energy stocks are on the rise, as well as the latest concerning Tellurian (NASDAQ:TELL) stock. You can learn more about these stocks at the links below!

More Wednesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media, https://investorplace.com/2021/09/ride-stock-short-alert-lordstown-motors-shares-rev-up-on-short-interest/.

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