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 and several stocks to watch this week based on the Fintel short squeeze leaderboard.
1. Getty Images Holdings GETY tops the short squeeze leaderboard for the week, moving up three positions from last week's report. Data shows 144.3% of the float short and a cost to borrow of 62.2%. Since going public via a SPAC merger, the content creator and image marketplace company has been a popular short-squeeze target. The company previously topped the leaderboard on several occasions and has been hovering in the top five over the last several months.
2. Alset Capital Acquisition Corp ACAX ranks second for the week, moving up four positions. The low-float SPAC announced a merger with lifestyle company HWH International in September 2022 to bring the health, wellness and happiness company public. Low-float SPACs have attracted interest from investors prior to their merger completion dates or shortly after their deals are complete. Data shows 8.5% of the float short and a cost to borrow of 202.3%.
3. Bitcoin Depot BTM ranks third for the week, moving up 81 positions. The stock continues the trend of Bitcoin BTC/USD related stocks, which often attract strong short interest from investors and occasionally land on the short squeeze list. The company, which is among the largest Bitcoin ATM operators, completed a SPAC merger earlier this year to hit the public markets. Data shows 15.1% of the float short and a cost to borrow of 56.6%.
4. VistaGen Therapeutics VTGN drops one position to rank fourth for the week. Data shows 16.6% of the float short, in line with last week’s report. The cost to borrow on shares falls from 72.8% to 69.0%. The stock ranked third on the short squeeze leaderboard for two straight weeks prior to its drop to fourth.
5. Blue Apron Holdings APRN drops four positions to fifth place for the week. Data shows 31.3% of the float short, in line with last week’s report. The cost to borrow on shares rose from 37.3% last week to 47.6% in the latest report. In three of the last four weeks, the meal delivery company topped the short squeeze leaderboard, securing a second-place spot during the remaining week before the latest drop. Blue Apron has been a popular short-squeeze candidate in recent years.
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Stocks to Watch: Outside the top five short-squeeze candidates, several other names are making big moves. Here are five stocks rising on the charts with significant short percentages or borrowing costs.
Jupiter Wellness JUPW ranks seventh for the week, moving up two positions. Data shows 16.5% of the float short and a cost to borrow of 108.8%.
Genius Group Limited GNS moves up two positions to rank ninth on the leaderboard. Data shows 13.6% of the float short and a cost to borrow of 107.7%.
Bullfrog AI Holdings BFRG moves up one position to rank 13th on the list. Data shows 12.0% of the float short and a cost to borrow of 269.5%. The stock has been a popular short squeeze candidate on the list in the past.
AirSculpt Technologies AIRS moves up six positions to rank 20th in the latest report. Data shows 22.9% of the float short and a cost to borrow of 14.3%. The stock previously topped the short squeeze leaderboard earlier this year.
Vapotherm Inc VAPO ranks 22nd on the list, making a big jump of 154 places. Data shows 6.4% of the float short and a cost to borrow of 8.7%.
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