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.
Related Link: What Is A Short Squeeze?
Unicycle Therapeutics Inc (NASDAQ: UNCY): Biotechnology company Unicycle moves up 37 positions on the leaderboard to rank first for the week. Data shows 39.6% of the float short and a cost to borrow of 241.1%. The stock got several analyst updates and price target increases in recent weeks on the heels of a funding round to help with the commercialization of lead drug Renazorb.
Kala Pharmaceuticals Inc (NASDAQ: KALA): Kala returns to the top five positions on the leaderboard with an 11-position jump for the week to rank second. Data shows 12.6% of the float short and a cost to borrow of 644.2%. Last week, the stock was 14.2% of the float short and a cost to borrow of 507%. The stock previously ranked in the top five of the leaderboard and appears to be trending up once again.
Bellerophon Therapeutics Inc (NASDAQ: BLPH): Shares of Bellerophon are up more than 500% in the last month, likely leading to an increased short interest in the clinical-stage biotech company. Data shows 14.7% of the float short and a cost to borrow of 188.1%. The stock moves up 274 positions to rank third on the leaderboard.
Compass Pathways PLC (NASDAQ: CMPS): Mental health company Compass Pathways moves up seven positions to rank fourth for the week. Data shows 33.8% of the float short and a cost to borrow of 20.7%. The company recently shared data from its Phase 2b study in patients with depression.
MicroAlgo Inc (NASDDAQ: MLGO): Ranking fifth for the week is MicroAlgo Inc, moving up five positions. Data shows 11.8% of the float short and a cost to borrow of 102.8%.
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.
PaxMedica Inc (NASDAQ: PXMD): Last week’s list topper PaxMedica moves down five positions to rank sixth. Data shows 43.7% of the float short and a cost to borrow of 427%.
Euda Health Holdings Ltd (NASDAQ: EUDA): Euda ranks seventh with a big jump of 1021 positions on the leaderboard. Data shows 9.1% of the float short and a cost to borrow of 255.2%.
Virgin Orbit Holdings Inc (NASDAQ: VORB): Space stock Virgin Orbit saw shares fall on financing concerns and the pausing of operations. Shares have since moved higher on reports of private financing. Data shows 12.7% of the float short and a cost to borrow of 48.1%. The stock moves up 32 positions to rank eighth for the week.
Getty Images Holdings Inc (NYSE: GETY): Content creator and image marketplace topped the short squeeze for several weeks before falling out of the top five. The stock ranks 10th for the week with 73.1% of the float short and a cost to borrow of 99%.
Via Renewables Inc (NASDAQ: VIA): Natural gas and electricity company ranks 12th for the week moving up 123 positions. Data shows 65.3% of the float short and a cost to borrow of 0.9%.
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