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The Arrival (ARVL) stock has increased significantly by over 400% in the last 30 days due to high demand from traders pursuing a short-squeeze strategy.
The Arrival stock went from a low of $0.14 on December 28th, 2022 to $0.63 at closing hours on the 13th of January 2023.
The company has a high short interest in proportion to their float, nearly 23%. Investors seem to be drawn to this firm at the moment on account of the ascent in share prices. Arrival has seen considerable daily gains, more than 400% gains in value. There is more to this success than just anticipation of lower interest rates in the near future.
2022 has been cruel to Arrival and its stock. It has dropped over 90% this past year, with even today's double not enough to make a difference. These shares have been pummelled by short sellers.
On Nov. 24, Arrival stated that Denis Sverdlov, its founder and former CEO, was being appointed as chairman of the board. In addition, ex-Marvel Entertainment executive Peter Cuneo had been designated interim CEO.
Arrival is constructing electric vehicles with cell-based robotic assembly lines in local micro-factories. This technique allows the factories to be easily established in warehouses, thus enabling a response to demand requirements in the vicinity.
Earlier this year, Arrival moved production of its van from Bicester in Oxfordshire to a North Carolina facility, to focus their attention on the van, plans for a bus and car were postponed in August. They have also clocked up large orders of the van - most notably 100,000 from UPS.
In a statement, Cuneo said he wanted to ensure that “the company executes on its next set of strategic goals” and said he looked forward to “working closely with Denis” and Arrival employees.
Sverdlov said: “I am more committed than ever to ensuring Arrival’s success, and I will continue to act in the best interests of the company, shareholders, customers, partners and employees.”
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