Bitcoin Holder MicroStrategy And 4 More Short Squeeze Stocks That Could Soar This Week

Potential short squeeze plays gained steam in 2021 and has continued through 2022 with new traders looking for the next huge move.

High short interest and a high cost to borrow are among the common traits that could lead to a short squeeze. Here’s a look at the top five short squeeze candidates based on the Fintel short squeeze leaderboard.

PaxMedica Inc: Clinical stage biopharmaceutical company PaxMedica Inc PXMD is developing treatments for autism spectrum disorder. The company held its IPO in August 2022 with a pricing of $5.25 per share. Fintel data shows 24% of the float short and a cost to borrow of 104.8%. The stock moves up 11 places on the leaderboard for the week.

IBio: Healthcare company IBio IBIO jumps 33 places on the leaderboard to rank second for the week. Data shows 120.1% of the float short and a cost to borrow of 5.6%. Shares are up over 200% year-to-date, likely leading to an increase in the number of people betting against the company.

Related Link: Betting Against Bitcoin And Michael Saylor, Could MicroStrategy See A Short Squeeze? 

MicroStrategy Inc: Software company MicroStrategy Incorporated MSTR rejoins the leaderboard, moving up 12 places. The company, which is also one of the biggest holders of Bitcoin BTC/USD has been a high short-interest stock with an increase in investors betting against the company and also against the leading cryptocurrency. Data shows 35.8% of the float short and a cost to borrow of 29.4% for MicroStrategy. The stock moved up 12 places to rank third for the week.

Greenwich LifeSciences: Clinical stage biopharmaceutical company Greenwich LifeSciences GLSI ranks fourth for the week after topping the leaderboard last week. Data shows 27.9% of the float short, down slightly from last week’s 28.5%. The cost to borrow on shares is 11.3%, up from last week’s 11.1%. The stock has frequently been on the leaderboard in 2022.

Aerovate Therapeutics: Clinical stage biopharmaceutical company Aerovate Therapeutics AVTE slides three places from last week to rank fifth for the week. Data shows 31.5% of the float short, in line with last week’s figure. The cost to borrow on shares is 6.9%, up slightly from last week’s 6.8%.