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Biggest Short Squeeze Stocks Of The Week: Two Biotech Stocks Move Up To Top The List

Published 31/10/2023, 14:21
Updated 31/10/2023, 15:40
© Reuters. Biggest Short Squeeze Stocks Of The Week: Two Biotech Stocks Move Up To Top The List

Benzinga - by Chris Katje, Benzinga Staff Writer.

Potential short squeeze plays gained steam in 2021, continued throughout 2022, and remain a 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 for the week based on the Fintel short squeeze leaderboard.

  • Ambrx Biopharma (NASDAQ:AMAM): The biotech stock tops the short squeeze leaderboard, moving up 4,104 positions from the previous week. Data shows that 88.4% of the float is short and a cost to borrow of 27.6%.
  • Tempest Therapeutics (NASDAQ:TPST): The biotech stock ranks second on the list, moving up 1,414 positions from the previous week. Data shows 28.1% of the float short and a cost to borrow of 119.3%. Shares of Tempest have been highly volatile since announcing results from a Phase 1B/2 study. Tempest shares are up over 1,150% in the last month and up over 200% year-to-date in 2023.
  • Torrid Holdings (NYSE:CURV): The specialty retailer ranks third on the list, moving up two positions and is one of only two stocks to remain in the top five from last week. Data shows 21.7% of the float short and a cost to borrow of 28.1%.
  • Bitcoin Depot (NASDAQ:BTM): The crypto ATM company that offers services for leading coins like Bitcoin (CRYPTO: BTC) continues to rank high among shorted stocks. The company ranks fourth on the list, falling two positions from last week. Data shows 15.2% of the float short and a cost to borrow of 31.2%. Shares of Bitcoin Depot are down 75% year-to-date in 2023.
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  • Vapotherm (NYSE:VAPO): The medical technology company ranks fifth on the leaderboard, moving up 14 positions from last week. Data shows 11.2% of the float short and a cost to borrow of 14.1%. Shares of Vapotherm are down 88% year-to-date in 2023

    • © 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Read the original article on Benzinga

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