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. Intuitive Machines LUNR tops the leaderboard for a second straight week. Data shows 22.5% of the float short, in line with the last two weeks. The cost to borrow on shares is 343.8%, up from last week’s 303.7% reported.
2. Wearable Devices WLDS moves up two positions from last week to rank second for the week. The stock has been climbing up the leaderboard in recent weeks, gaining over 200 positions in the last month. Data shows 15.1% of the float short. The cost to borrow on the stock is 428.9%, among the highest of all stocks.
3. Ocean Biomedical OCEA ranks third on the leaderboard, gaining 36 positions from last week’s report. The biopharmaceutical company has 11.7% of its float short according to the report. The cost to borrow on shares is 214.9%. Ocean Biomedical shares are down 24% in the last month.
4. AirSculpt Technologies AIRS drops two positions from last week’s report to rank fourth for the week. Data shows 34.6% of the float short. The cost to borrow on the stock is 17.8%, down from last week’s 22.1% reported. The stock previously topped the short squeeze leaderboard for two straight weeks in early June.
5. Bright Help Group BHG makes the biggest move of the top five short squeeze candidates, gaining 40 positions to rank fifth. The technology-enabled healthcare company has 11.9% of its float short according to the report. The cost to borrow on the stock is 168.4%.
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Stocks to Watch: Outside the top five short squeeze candidates, several other names are making big moves, including:
ShiftPixy PIXY ranks sixth on the leaderboard, moving up 18 positions. Data shows 11% of the float short and a cost to borrow of 138.3%.
Groupon Inc GRPN ranks seventh on the leaderboard, moving up nine positions. Data shows 31.2% of the float short and a cost to borrow of 51.6%.
Hub Cyber Security HUBC ranks eighth on the leaderboard. Data shows 38.7% of the float short and a cost to borrow of 156.8%. The stock moved up six positions on the leaderboard.
Exela Technologies XELA ranks 15th on the leaderboard, moving up 22 positions. Data shows 15.9% of the float short and a cost to borrow of 95.7%.
Big Lots Inc BIG ranks 41st on the leaderboard, moving up 20 positions. The stock continues to climb, moving up 87 positions in the previous week. Data shows 40.7% of the float short and a cost to borrow of 5.1%.
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