Potential short squeeze plays gained steam in 2021, continued throughout 2022, and remain a focus of new traders looking for the next huge move.
High short interest and steep borrowing costs are among the common traits that could lead to a short squeeze.
Here’s a look at the top five short squeeze candidates and several stocks to watch this week based on the Fintel short squeeze leaderboard.
1. Asset Entities ASST tops the leaderboard for the second straight week. Data shows 25.2% of the float short, in line with last week’s report. The cost to borrow on shares drops slightly from 393.5% to 328.3%. Asset Entities provides social media marketing and content delivery services for Discord, TikTok and other platforms. The company recently launched an AI Bot for Discord.
2. Intuitive Machines LUNR ranks second on the leaderboard for a second straight week. Data shows 25.0% of the float short, in line with last week’s report. The cost to borrow on shares is 266.5%, which is down from last week’s 284.0% reported.
3. Toro Corp TORO moves up two positions to rank third for the week. Data shows 46.7% of the float short and a cost to borrow of 22.3%. The stock previously topped the short squeeze leaderboard for several weeks in May.
4. MoonLake Immunotherapeutics MLTX ranks fourth on the leaderboard for a second straight week. Data shows 85.4% of the float short, in line with last week’s report. The cost to borrow on shares is 11.9%, down from last week’s 13.6% reported. Shares of the clinical biotech rocketed higher last week after the company reported topline results from its Phase 2 MIRA trial for its nanobody sonelokimab. MoonLake has been a frequent name in the short squeeze leaderboard over the last year.
5. Lightning eMotors ZEV is the lone newcomer to the top five short squeeze stocks for the week, moving up 21 positions to rank fifth. Fintel does not give a short percentage on the stock, but highlights the cost to borrow of 77.5%.
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Stocks to Watch: Outside the top five short squeeze candidates, several other names are making big moves, including:
ShiftPixy Inc PIXY ranks sixth on the leaderboard, moving up four positions. Data shows 14.4% of the float short and a cost to borrow of 370.2%, one of the highest figures for the week.
Sientra Inc SIEN ranks eighth for the week, moving down one position. Data shows 20.6% off the float short and a cost to borrow of 61.7%. The cost to borrow moves up from last week’s 61.3% reported.
Bullfrog AI Holdings BFRG ranks 11th for a second straight week. Data shows 20.1% of the float short and a cost to borrow of 481.6%.
Kura Sushi KRUS ranks 23rd for the week, moving up 15 positions. Data shows 22.7% of the float short and a cost to borrow of 1.3%.
Carvana Co CVNA ranks 73rd on the leaderboard, moving up 12 positions. Data shows 63.5% of the float short, ranking third among all companies on the Fintel short squeeze leaderboard. The cost to borrow on shares is 7.8%.
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