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Stocks exhibiting significant short interest frequently experience substantial price surges due to a short squeeze, making it advisable for investors to monitor such stocks. Here’s a brief overview of five such stocks.

Intelligent Bio Solutions Inc. (NASDAQ: INBS), a leading provider of innovative medical technologies, has announced impressive financial results for the fiscal second quarter and six-month period ending December 31, 2023. The company reported a remarkable year-over-year revenue increase of 114% for the second quarter and 337% for the six months. This surge in revenue is attributed to the growing adoption of its Intelligent Fingerprinting Drug Screening System and successful expansion into new global markets and substantial growth in product sales, with cartridges up by 30% and readers by 91% compared to the previous year. On February 9, 2024, the company’s stock experienced a surge in trading activity, reaching a peak of $11.70 during the day and closing at $6.76, marking a significant increase of 134.9%. Trading volume was notably high at 89.1 million shares, indicating strong investor interest. The stock also surpassed its 50-day moving average, indicating a positive intermediate-term outlook. Currently, the stock is in an oversold condition but persists in trading above its 50-day moving average (DMA), while receiving support from its 20 DMA. Consequently, there shouldn’t be any surprises if it moves sideways or rebounds to a higher trading range.

Blink Charging Co. (NASDAQ: BLNK) has recently seen robust uptrends, rebounding by approximately 33% from its low of $2.18 per share. It is a prominent global entity engaged in the ownership, operation, manufacturing, and provision of electric vehicle (EV) charging solutions and services. The company disclosed that it will unveil its financial outcomes for the fourth quarter and fiscal year 2023 on March 14, 2024, post-market closure. Forecasts suggest quarterly revenues exceeding $42 million and full-year revenues surpassing initial guidance.

Beyond Meat (NASDAQ: BYND) was once a high-flying stock, reaching $200 per share by early 2021. However, it has since undergone significant and sustained corrections, now trading at just $7.6 per share. In the third quarter of 2023, the company saw a year-over-year revenue decrease of 8.7% to $75.3 million, with a notable 30.8% decline in U.S. revenues countered by a 58.7% increase in international revenues. Presently, the company’s primary focus lies on reducing operating expenses, with management shifting attention from pursuing growth to achieving profitability.

Novavax (NASDAQ: NVAX) disclosed on February 22, 2024, that it had reached a resolution with Gavi, the global vaccine organization, regarding a payment dispute concerning the company’s COVID-19 vaccine. Under the settlement terms, Novavax agreed to pay a maximum of $475 million to Gavi. The disagreement stemmed from Gavi’s request for a refund on a $700 million advance payment for vaccines it opted not to order from Novavax. The payment will be made in installments extending until December 31, 2028, rather than as a lump sum.

Plug Power (NASDAQ: PLUG) made several significant announcements throughout the month, including the expansion of its partnership with Uline, a leading shipping and packaging company. This expansion involves the installation of a single 18,000-gallon hydrogen storage tank and 17 hydrogen dispensers at Uline’s Kenosha, Wisconsin facility. Furthermore, Plug Power will provide Uline with 250 hydrogen-powered fuel cell forklift units for on-site use.