Jun. 10 at 7:16 PM
$ELPW ELPW continues to show signs of strength heading into the final 45 minutes of trading. The stock is currently up nearly 7% on the day while trading approximately 5.25 million shares against a float of just 1.17 million shares. Despite volume exceeding four times the available float, the stock has continued to hold above the
$1.20 area rather than experiencing a sharp selloff.
Several metrics remain noteworthy. The float is approximately 1.17 million shares, short interest is reported at roughly 301,920 shares, representing about 25.86% of the float, and borrow rates have recently been reported between 244% and 428%. In addition, shares available to borrow recently fell as low as zero before recovering to only a few thousand shares. These statistics suggest that borrowing shares remains expensive and limited.
While this does not guarantee a short squeeze, the setup remains favorable if buyers continue to apply pressure. The key level to watch is
$1.30. A break above that level could bring renewed momentum and potentially open the door for a retest of
$1.50 and the recent high near
$1.75. As long as ELPW can maintain support in the
$1.15-
$1.20 range, the overall technical picture remains constructive heading into the close.
