Potential short squeeze plays gained steam in 2021, continued throughout 2022, and remain a new focus of 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.
- Blue Apron Holdings Inc APRN continues its climb on the short squeeze leaderboard, moving to the top position for the week. The stock moves up four positions from last week, which follows a previous jump of 12 positions and other recent moves up. The meal delivery company has been a popular short-squeeze candidate in recent years. Data shows 33.3% of the float short, up from last week’s 27.2% reported. The cost to borrow on shares is 99.0%, down from last week’s 11.2% reported.
- Intuitive Machines LUNR re-enters the top ten short squeeze candidates for the week. The stock moves up eight positions to rank second, which comes months after the company topped the short squeeze leaderboard for several weeks. Data shows 164.4% of the float short and a cost to borrow of 189.9%.
- Aurora Acquisition Corp AURC moves up 90 positions on the leaderboard to rank third for the week. Data shows 11.4% of the float short and a cost to borrow of 327.5%. The SPAC announced a merger with Better.com in 2021 and has seen several delays since the announcement. Delays and shareholder votes on the merger and extensions have seen heavy redemptions, leading to a lower float of under one million shares for the company.
- Yellow Corporation YELL moves one spot down the list to third place. The trucking company was one of the bigger stories in recent weeks, with a bankruptcy planned and potential asset sales. Fintel shows 71.3% of the float short, up from last week’s 50.1% reported. The cost to borrow on shares is 145.7%, down from last week’s 173.1%.
- Getty Images Holdings GETY ranks fifth for the week, moving up one position and back into the top five. Data shows 183.5% of the float short, down from last week’s 206.7% reported, but still one of the highest in recent weeks. The cost to borrow on shares is 67.5%, up from last week’s 54.8%.
Related Link: The Apes Just Resurrected WeWork Stock
Stocks to Watch: Outside the top five short-squeeze candidates, several other names are making big moves. Here are five stocks that are climbing the leaderboard or have high data figures for short percentage or cost to borrow.
- Bullfrog AI Holdings BFRG ranks seventh for the week, moving up 10 positions. Data shows 23.7% of the float short and a cost to borrow of 322.5%.
- ATI Physical Therapy ATIP moves up 20 positions to rank eighth for the week. Data shows 8.3% of the float short and a cost to borrow of 58.3%.
- Nuvectis Pharma NVCT ranks 10th for the week, moving up 22 positions. Data shows 10.5% of the float short and a cost to borrow of 38.1%.
- TradeUP Acquisition Corp UPTD ranks 12th on the leaderboard, making one of the biggest moves of the week up 1,571 positions. Data shows 26.4% of the float short and a cost to borrow of 20.0%.
- Reto Eco-Solutions RETO ranks 21st for the week with a 1,731 position move up the leaderboard. Data shows 7.8% of the float short and a cost to borrow of 55.3%.
Image: Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.