Yawn... some people still can't stop whinging about shorts. It is really quite pathetic. I get it that blaming everything on shorts provides a cheap excuse, but the reality is that the current share price movement of NVX doesn't even have anything to do with shorts.
The truth is that NVX doesn't even have a particularly high short interest. To provide you more context, average (median) long-term short interest of S&P 500 companies is around 1.5-3%. For some industries, it is more like 4%. Meanwhile, if you look at the US stock markets as a whole, there are plenty of companies that have a much higher short interest of 10%, 20% and beyond, without downward pressure.
That being said, shorts have nothing to do with NVX not skyrocketing. The reality is that the company is already way ahead of itself. Its market value is multiple times higher than the actual value of the company, so the real expectation should be for NVX to drop below $1 per share. As the company keeps burning money on little to no value-adding expenses, there will be even more reasons for even steeper fall.
Some people may not like to hear it, but higher interest rates and less liquidity leave less room for rainbows, unicorns and pink cotton candy. Companies actually have to be profitable and can't prolong wasting time with excuses such as "but we are just a start-up or a growth company".
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