Plug Power (PLUG) Shorts Add to Bets on Pop

Short sellers in Plug Power (NASDAQ: PLUG) saw an opportunity to add to their bets today following this morning's spike higher on news of a expanded relationship with Wal-Mart, according to data from S3 Partners.

Short interest increased over 500,000 shares today, according to S3's Ihor Dusaniwsky.

As of yesterday (7/20), PLUG short interest was 39,974.597 shares, or $84.7 million in shorts. Today it has moved up to 40.47 million shares, or $92.5 million. The latest NASDAQ data has 38.6 million shares short as of 06/30.

Shares of PLUG last traded up 9.3% to $2.32. They were as high as $2.52, or 19%, earlier.

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