Benzinga - Potential short squeeze plays gained steam in 2021 and 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 this week based on the Fintel short squeeze leaderboard and some other stocks to watch that are moving up the list.
Related Link: What Is A Short Squeeze?
- China Jo-Jo Drugstores (NASDAQ: CJJD): The pharmaceutical retailer and distributor moves up two positions from last week’s leaderboard to top the week. Data shows 26.9% of the float short, compared to 10.7% last week. The cost to borrow is listed at 50.*%, up from last week’s 38.7%. The stock was also recently featured in Benzinga’s “Stock Whisper” Index thanks to increased interest in the name.
- Kala Pharmaceuticals (NASDAQ: KALA): No stranger to the short squeeze leaderboard, Kala Pharmaceuticals moves up eight positions to rank second for the week. Data shows 12.9% of the float short and a cost to borrow of 227.8%.
- Expion360 Inc (NASDAQ: XPON): Lithium battery company Expion360 moves up 108 positions on the leaderboard to rank third for the week. Data shows 12.2% of the float short and a cost to borrow of 433.8%. The cost to borrow for Expion360 is the second highest on the leaderboard for the week.
- iBio Inc (AMEX: IBIO): The healthcare company ranks fourth on the short squeeze leaderboard for the week. Data shows 17.6% of the float short and a cost to borrow of 305.2%. The company saw shares trade higher in February after announcing a new immune-oncology target program.
- MoonLake Immunotherapeutics (NASDAQ: MLTX): The biopharmaceutical company moves up three positions to rank fifth for the week. The company has previously been a short-squeeze candidate. Data shows 12.3% of the float short and a cost to borrow of 15.4%. The stock recently got an initiation from Cantor Fitzgerald with an Overweight rating and a price target of $23.
- Stocks to Watch: Outside the top five short squeeze candidates, several other names are making big moves and could be ones to watch for investors.
- Getty Images Holdings (NYSE: GETY): After topping the short squeeze leaderboard for four straight weeks, the stock falls five positions to sixth place. Data shows 68.6% of the float short and a cost to borrow of 100.6%.
- PaxMedica Inc (NASDAQ: PXMD): The biopharmaceutical company ranks 23rd on the list, moving down eight positions. The stock has the highest cost to borrow for the week at 497.1%. The stock has 11.8% of its float short for the week.
- Golden Sun Education (NASDAQ: GSUN): Chinese education company Golden Sun has previously been featured in the short squeeze candidates list and Benzinga’s “Stock Whisper” Index. The stock ranks eighth for the week, moving up 90 places and nearing the top five candidates once again. Data shows 13.4% of the float short and a cost to borrow of 141.2%.
- Silvergate Capital (NYSE: SI): The cryptocurrency-focused financial company Silvergate finds itself the subject of short reports and distancing from cryptocurrency companies. While Silvergate may see its shares continue to fall, the name could pop up and be highly volatile on the potential of a short squeeze. The stock ranks 28th on the list. Data shows 70.6% of the float short, the second highest of all stocks on the leaderboard. The cost to borrow on shares is 21.4%.
- Blue Apron Holdings (NYSE: ARPN): Meal delivery company Blue Apron ranks 12th on the list, moving up eight positions for the week. Data shows 63.2% of the float short, one of the highest figures for the week. The cost to borrow on shares is 14.7%.
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