Shares of Blink Charging Co. (BLNK Quick QuoteBLNK - Free Report) closed up almost 13% in Thursday trading in what looks like some short squeeze action. BLNK is one of the most heavily shorted stocks, with over 40% of float shorted. Other news potentially driving shares is the expansion of its charging network in New York, as well as lingering optimism about Biden’s plan to build a national EV charging system.

But investors will need to watch out for any significant corrections. Right now, BLNK’s valuation seems overstretched with a price/sales ratio of roughly 289X. BLNK is up an astounding 2,550% in the past one-year period, too. And, the company reported mixed Q4 results last month that showed soaring sales but deepening losses. Potential buyers should prepare for some wild ups and downs.

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