The full year 2021 has moved from a loss of $0.78 to a loss of $0.72. Over the last 60 days, I see a few increases. For BEEN, I see annual estimates moving higher. The Zacks Rank tells us which stocks are seeing earnings estimates move higher. The silver lining to that storm cloud is the most recent quarter was the beat. There is one beat over the last four quarters. That is what you want to see.įor BEEM, I see a bad history of beating the Zacks Consensus Estimate. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. When I look at a stock, the one of the first things I do is look to see if the company is beating the number. There are few things in the investing world like a growth story that has a big short position present already. Sales growth of 156% is expected for 2022 and that is the type of thing that strikes fear the in heart of all the shorts. That is good, but it is the growth expectation for next year that is going to cause some weakness in the knees of the shorts. That was the start of a titanic run that crushed the shorts thanks to the solid growth they posted.įor the full year 2021, analysts are expecting topline growth of about 41%.
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That probably drove more than a few shorts to cover as they recalled that November 2019 earnings report from Tesla ( TSLA Quick Quote TSLA - Free Report). The most recent quarter saw topline growth of 63%. I love growth, after all, I am the aggressive growth stock strategist here at Zacks Investment Research.īEEM has posted some nice growth numbers already and they are only going to get bigger. In a word, the thing that shorts hate to see is GROWTH. When the shorts start to cover and the price starts to soar, the exits will be jammed and it will be that much harder to exit this short position. The problem with this is that there are too many shares sold short. They did this same thing with Tesla ( TSLA Quick Quote TSLA - Free Report) too, as they piled into short sales and then long put positions. Short sellers have a way of all targeting the same stock at the same time. and there is plenty more covering to come. It’s a big lag actually, but when we look at the last two readings of the number of shares should short we see the covering has already begun.Ĭurrently there are 2,560,000 shares sold short while the prior reading came in at 2,670,000. The data we get on shares sold short has a lag. Of the shares in the float, about 34% of those shares are sold short. One word of advice to the shorts, if you are going to panic, do so early.īEEM has 8.9M shares outstanding and roughly 7.5M shares in the float.
Once they realize the retail holders are not selling, but rather increasing their position, the squeeze will start. The next step is outlining why the shorts are barking up the wrong tree. The most important part of a squeeze play is making sure the shorts are in the stock in a big way. Beam Global, formerly known as Envision Solar, is based in San Diego California. It produces products for electric vehicle charging, outdoor media and energy security. Is this the next Tesla style “Mother Of All Short Squeezes”? It very well could be so let’s explore more about that idea in this Bull Of The Day article.īeam Global produces patented infrastructure products for the electrification of transportation. This EV play has a massive short position and the potential for a huge squeeze play is in the making. Beam Global ( BEEM Quick Quote BEEM - Free Report) is a Zacks Rank #2 (Buy) that sports an F for Value and for Growth as well.
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