Benzinga - 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.
AirSculpt Technologies (NASDAQ: AIRS): The body contouring company moves up two positions to top the leaderboard. Data shows 49% of the float short, up from last week’s 46.9% reported. The cost to borrow on shares is 44.5%, significantly higher than last week’s 14.2% and the 5.8% figure from two weeks ago. Shares of AirSculpt are up over 50% in the last month.
MoonLake Immunotherapeutics (NASDAQ: MLTX): The biopharmaceutical company moves up two positions to rank second on the list. Data shows 80.2% of the float short, up from last week’s 61.5% reported. The cost to borrow on shares is 9.1%, down from last week’s 10.6%.
Arrival (NASDAQ: ARVL): Listed as a stock to watch in last week’s 10 short squeeze stocks to watch, Arrival moves up three positions to rank third and crack the top five for the week. Data shows 23.6% of the float short, up from last week’s 18.9% reported. The cost to borrow on shares is 47.9%, up from last week’s 38.1%.
Huadi International (NASDAQ: HUDI): The industrial company moves up 18 places to rank fourth for the week. Data shows 13.3% of the float short and a cost to borrow of 114.4%. The stock was singled out as a stock to watch in early May as the stock had moved up the Fintel short squeeze leaderboard and saw a cost to borrow of over 100%.
Toro Corp (NASDAQ: TORO): The energy transportation company ranks fifth for the week, moving down from its first place position it held for several weeks. Data shows 63.9% of the float short, down from last week’s 70.6% reported. The cost to borrow on shares is 26.6%, up slightly from last week’s 24.4%.
Related Link: What Is A Short Squeeze?
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.
Beam Global (NASDAQ: BEEM): The electric vehicle and solar energy infrastructure company moves up one position to rank sixth and near the top five short-squeeze candidates. Data shows 17.9% of the float short and a cost to borrow of 18.8%.
Groupon Inc (NASDAQ: GRPN): Coupon and discount company Groupon ranks ninth on the leaderboard, moving up four positions. Data shows 32.8% of the float short and a cost to borrow of 17.4%. The stock ahs fallen 67% in the last year and is down 95% in the last five years.
Lightning eMotors (NYSE: ZEV): The zero-emission commercial truck and bus company ranks 11th on the leaderboard, moving up 1,657 positions in one of the biggest moves of the week. Data shows 18.9% of the float short and a cost to borrow of 109.0%.
Shift Technologies (NASDAQ: SFT): The automotive e-commerce company ranks 12th for the week, moving up 39 positions. Data shows 14.7% of the float short and a cost to borrow of 67.6%.
Getty Images Holdings (NYSE: GETY): The content creator and image marketplace company ranks seventh, dropping two positions. Data shows 141.6% of the float short and a cost to borrow of 96.7%. The stock previously topped the leaderboard and continues to show some of the highest figures for short percentage and cost to borrow.
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