Short Selling

Beam Global is the new Short Squeeze runner in the market

Three Beam Global solar tree EV chargers are planted in a lane, and three automobiles are availing the service

A Capital Goods company headquartered in California, Beam Global (BEEM: US) designs and mass-manufactures products that focus on sustainable transportation and clean technology. 

The company came to be in 2006 and, has a current M Cap of $190.46 million. In the past couple of years, BEEM saw its highest stock rise at the end of 2020 and the beginning of 2021. This turn in value was partly because Beam welcomed new patents for its EV charging framework.

Later in 2021, multiple insiders at Beam Global began selling their shares in the company in large numbers. True to it, the stock took a startling downturn. But recent events in 2022 prove that there is still hope for the stock through the trends of a short squeeze.

Short Selling & Price Fluctuations

Until now, the whole of 2022 has been a roller coaster ride for BEEM. As of April 19, the utilization rate is standing at a full 100%, as it has been since February 07. Total shares on loan are around 2.36 million, and the short interest rate is at 27.4%.

BEEM started the year with a closing price of $20.17, which later dropped significantly until March. Its lowest value was on January 27, but later the stock rebounded. On March 31, the stock opened at $18.08. In a plot twist, BEEM closed at $20.45 the same day; a stunning rise of almost 13.11%.

Different short selling measures are depicted in this diagram, which gives shorting statistics.

Much of this can be attributed to a March 17 announcement that Beam had deployed a clean charging system for Costa Mesa, a city in California, where the company itself is headquartered. The system would be used to power electric vehicles that are part of the city’s fleet, including an electric shuttle bus for the city’s Senior Center.

What else is on the Menu?

Considering BEEM’s stock data of the past multiple years, the stock has risen by a whopping 169.22% in the past five years. 

Earlier the company unmasked its financial highlights for 2021, setting a new record for annual revenues when it reported $9.0 million in revenue for the year. Experts have also named BEEM, among other stocks, as the top selection for a potential short squeeze. 

Recently, however, the stock has reverted to a downturn. On a single day, the stock price decreased substantially. On April 20, the stock opened at $22.14 and closed at $18.98. This signified a fall of nearly 14.27%.

Besides this sudden fall, the stock has performed well in the past month, and the demand for electric vehicles could propel the company further ahead. 

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