Hour Loop, Indonesia Energy, Chicken Soup For The Soul And 7 More Short Squeeze Stocks That Could Soar This Week

Zinger Key Points
  • Hour Loop moves up 19 positions to top the leaderboard for the week.
  • Oil company Indonesia Energy moves up one place to second and is the only top five carryover from last week.
Hour Loop, Indonesia Energy, Chicken Soup For The Soul And 7 More Short Squeeze Stocks That Could Soar This Week

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 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.

1. Hour Loop: E-commerce company Hour Loop HOUR tops the leaderboard for the week, rejoining the leaderboard it was on in August. Data shows 15.65% of the float short and a cost to borrow of 55.5%. The stock moved up 19 places on the leaderboard, the biggest jump of the top five short squeeze candidates.

2. Indonesia Energy Corporation: Oil and gas exploration company Indonesia Energy INDO ranks second on the leaderboard for the week, moving up one position. Data shows 16.2% of the float short and a cost to borrow of 196.6%. The stock moved up one position from last week, a move that comes after a 12-position jump in the previous week. The company previously topped the leaderboard earlier this year for several weeks in a row.

3. Pennsylvania Real Estate Investment: Mall owner and operator Pennsylvania Real Estate Investment Trust PEI ranks third on the leaderboard, moving up 15 places from last week. Data shows 20.7% of the float short and a cost to borrow of 9.2%. The stock was on the short squeeze leaderboard back in July.

4. Beam Global: Electric vehicle charging company Beam Global BEEM moves up three positions to re-enter the top five short squeeze candidates. Data shows 20.2% of the float short and a cost to borrow of 26.5%. The stock was previously on the short squeeze leaderboard in April.

5. Virgin Orbit Holdings: Satellite launch and space technology company Virgin Orbit Holdings Inc VORB moves up 11 places to rank fifth on the short squeeze leaderboard. Data shows 15.2% of the float short and a cost to borrow of 82.5%. With a market capitalization of $1 billion, the company is the largest of the top 12 on the short squeeze leaderboard. The company was on the leaderboard last month, also ranking fifth.

Related LInk: Virgin Orbit Nears SPAC Merger: What Investors Should Know 

Stocks to Watch: Outside of the top five short squeeze candidates, several names jump out based on making big moves from last week’s leaderboard.

Chicken Soup for Soul Entertainment CSSE moves up 31 places to sixth place with 16.8% of the float short and a cost to borrow of 30.1%. The streaming company, which bought popular short squeeze candidate Redbox, is no stranger to the list and could be one to watch to rejoin the top five.

Forafric Global AFRI has been grabbing headlines this year with its ties to the wheat industry. The stock moved up 706 positions to eighth place for the week with 14.7% of the float short and a cost to borrow of 234.3%.

Opal Fuels OPAL moved up 57 positions to 11th place, with 9.1% of the float short and a cost to borrow of 83.7%.

Getty Images GETY topped the leaderboard last week. The company moves down 12 places to 13th and has 84.5% of the float short and a cost to borrow of 181.7%, both up from last week. The stock could be on watch to re-join the top five candidates.

Heartcore Enterprises HTCR ranks 16th on the leaderboard with a huge move up of 1,972 positions from last week. Data shows 11% of the float short and a cost to borrow of 426.6%.

Photo via Shutterstock.

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