Getty Images, MicroStrategy And 3 More Short Squeeze Stocks That Could Soar This Week

Zinger Key Points
  • Getty Images ranks as the top short squeeze candidate for the week, according to Fintel.
  • Bitcoin holder MicroStrategy remains in the top five and has seen strong short interest as a major cryptocurrency holder.

Potential short squeeze plays gained steam in 2021 and have 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 based on the Fintel short squeeze leaderboard.

Getty Images: Content creator and image marketplace Getty Images GETY tops the short squeeze leaderboard for the week, moving up 11 places. Data shows 71.8% of the float short and a cost to borrow of 176.4%. The totals rank as the highest percent of the float short and the fourth highest cost to borrow on Fintel’s leaderboard.

Getty Images, which went public via SPAC, has been a frequent mention as a short squeeze stock with a low float after the SPAC redemption period. An unlock of additional shares increased the float and took away some of the momentum of the short squeeze.

Pineapple Energy: Clean energy company Pineapple Energy PEGY falls one place to second place after topping last week’s leaderboard. Data shows 33.6% of the float short, in line with last week’s figure. The cost to borrow on shares falls from 162% last week to 118.1% to start the week. The company went public via SPAC merger and offers solar energy, back-up power and clean energy solutions with Hawaii as its primary market.

Indonesia Energy Corporation: Oil and gas exploration company Indonesia Energy INDO returns to the short squeeze leaderboard, moving up 12 positions from last week’s rankings. The company previously topped the Fintel short squeeze leaderboard in March for multiple weeks in a row. Data shows 20.1% of the float short and a cost to borrow of 251.6%. The cost to borrow is the second highest of stocks on the leaderboard, according to Fintel.

Related Link: Betting Against Bitcoin And Michael Saylor, Could MicroStrategy See A Short Squeeze 

SurgePays: Fintech company SurgePays Inc SURG moves up three places to rank fourth on the leaderboard for the week. The company was previously a top five stock on the short squeeze leaderboard. Data shows 62.4% of the float short, the second highest figure on the leaderboard for the week. The cost to borrow on shares is a low 5.6%. If the short interest remains high and the cost to borrow rises, SurgePays could continue to be a candidate for a short squeeze.

MicroStrategy: Software company and Bitcoin BTC/USD holder MicroStrategy Inc MSTR moves to fifth place, down one place from last week. Data shows 34.3% of the float short, down from last week’s reported 35.8%. The cost to borrow on shares is 28.7%, up from last week’s 27.7%. The company has been a popular short candidate for investors who believe the price of Bitcoin will go down, as the company is one of the public companies exposed the most to the volatility of cryptocurrency.

Read Next: Michael Saylor Told Benzinga This About Bitcoin

Photo via Shutterstock.

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