Bitcoin Holder MicroStrategy, SurgePays And 3 Other Short Squeeze Stocks That Could Soar This Week

Potential short squeeze plays gained steam in 2021 and have 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.

Related Link: The 10 Most Shorted ETFs: Which Sectors Saw Short Interest Increase

• MicroStrategy Inc MSTR: The software company and Bitcoin BTC holder returns to the short squeeze leaderboard and tops the list for the week. Data shows 39.5% of the float short and a cost to borrow of 54.5%. The company was previously on the leaderboard in November and has been a frequent short-squeeze candidate with people betting against the company and its large exposure to Bitcoin. MicroStrategy moved up nine places to the top of the list.
• SurgePays Inc SURG: The fintech company holds steady at second place for the second straight week and places in the top three positions for a third straight week. Data shows 76.7% of the float short, up from last week’s 70.1%. The cost to borrow on shares is 6.1%, down from last week’s 8.4%.
• MoonLake Immunotherapeutics MLTX: The biopharmaceutical company ranks third on the leaderboard for a second straight week. Data shows 26.7% of the float short, up from last week’s 19.4% reported. The cost to borrow shares is 25.5%, down slightly from last week’s 25.8%.
• PaxMedica PXMD: The biopharmaceutical company ranks fourth for the week, moving down three positions from last week’s first-place ranking. Data shows 30.3% of the float short, up from last week’s 21.7% reported. The cost to borrow on shares is 400.9%, down from last week’s 402.1%, but once again the highest of all the candidates on the Fintel leaderboard.
• Aerovate Therapeutics AVTE: The biopharmaceutical company returns to the short squeeze leaderboard where it placed in the top five back in October. The stock moves up 17 places to rank fifth for the week. Data shows 29.1% of the float short and a cost to borrow of 7.1%.

Benzinga recently introduced the Moneymaker Index, which shares a weekly list of five stocks that are seeing increased interest from investors. Check out the weekly series here.