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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.
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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.
Getty Images Holdings (NYSE:GETY): The content creator and image marketplace tops the short squeeze leaderboard for a fourth straight week. Since going public via SPAC merger, the stock has frequently appeared on the list. Data shows 77.4% of the float short, in line with the last two weeks. The cost to borrow on shares is 103.1%, down from last week’s 110.2%.
Genius Brands International (NASDAQ:GNUS): Media company Genius Brands ranks second for the week, moving up one position from last week. Data shows 106.1% of the float short, in line with last week’s figure. The cost to borrow on shares is 6.2%, down slightly from last week’s 6.4% reported.
China Jo-Jo Drugstores (NASDAQ:CJJD): Leading online and offline pharmaceutical retailer and distributor China Jo-Jo ranks third for the week, moving up five positions. Data shows 10.7% of the float short and a cost to borrow of 38.7%.
Lannett Co (NYSE:LCI): Generic pharmaceutical company Lannett moves back into the top five short squeeze candidates, where it placed second several weeks ago. The stock moves up three positions to rank fourth for the week. Data shows 47.4% of the float short and a cost to borrow of 6.5%.
ElectroCore (NASDAQ:ECOR): Medical technology company ElectroCore moves up a staggering 3,444 positions to rank fifth for the week on the leaderboard. Data shows 19.6% of the float short and a cost to borrow of 6.4%.
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Related Link: What's Going On With Genius Brands Stock?
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.
Phoenix Motor (NASDAQ:PEV): The electric vehicle-focused company ranks sixth, moving up 13 positions. Data shows 11.9% of the float short and a cost to borrow of 84.1%.
MicroAlgo (NASDAQ:MLGO): Algorithm and chip company MicroAlgo went public via SPAC merger last year and now ranks seventh on the leaderboard, moving up five positions. Data shows 11.2% of the float short and a cost to borrow of 132.1%.
Seanergy Maritime Holdings (NASDAQ:SHIP): The shipping company moves up 2,166 positions on the leaderboard to rank 12th. Data shows 34.1% of the float short and a cost to borrow of 7.1%.
Beam Global Inc (NASDAQ:BEEM): Cleantech company Beam Global ranks 14th on the list, moving up 29 positions. Data shows 19% of the float short and a cost to borrow of 21%.
PaxMedica Inc (NASDAQ:PXMD): No stranger to the short squeeze leaderboard, PaxMedica ranks 15th for the week, moving up five positions. Data shows 16.1% of the float short and a cost to borrow of 494.9%. The cost to borrow is the highest among short-squeeze candidates for the week.
Photo: Shutterstock
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.