Core Scientific Inc. (NASDAQ:CORZ) ranks among the best short squeeze stocks to invest in.
In response to Core Scientific Inc. (NASDAQ:CORZ)’s announcement of about 1.2 gigawatts of approved power capacity for the current year, BTIG increased its price objective for the stock on May 13 from $23 to $33 with a Buy rating
Core Scientific Inc. (NASDAQ:CORZ) unveiled a new 430-megawatt facility in Hunt County, Texas, with the development increasing Core Scientific’s power infrastructure in the Dallas metropolitan area to roughly 825 megawatts. Moreover, on May 7, Needham boosted its price target for Core Scientific Inc. (NASDAQ:CORZ) to $29 from $23 with a Buy rating after the company’s Q1 earnings announcement. Core Scientific announced revenue of $115.2 million, which surpassed Needham’s forecast of $106.9 million.
The company also revealed a deal to acquire Polaris DS, which is currently contracted for 440 megawatts of gross power. Core Scientific Inc. (NASDAQ:CORZ) operates digital Bitcoin mining and HPC infrastructure. The company uses its own fleet of computers, called miners, to earn Bitcoin for its own account and also provides hosting services for Bitcoin mining and HPC customers at US-based operational data centers.