Potential short squeeze plays gained steam in 2021 and continued through 2022, with new traders looking for the next huge move.

A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss if they have to buy back the shares they initially borrowed at a higher price.

A squeeze can occur when short sellers are forced into buying to cover their position, which can cause shares to move up on many occasions.

Fintel Data, which requires a subscription, provides a look at several of the top shorted stocks and how likely a short squeeze is to occur. Here’s a look at the top five short squeeze candidates for the week of Aug. 8.

TDH Holdings: Pet food company TDH Holdings Inc (NASDAQ:PETZ) ranks fourth for the week on the short squeeze leaderboard. Data shows 37.6% of the float short and a cost to borrow of 60.6%.

See Also: 5 Short Squeeze Stocks That May Soar: ToughBuilt, Solo Brands And This Oil Stock

Stocks To Watch

Outside the top five companies on the short squeeze leaderboard are several companies making big moves up and down that could be the next top squeeze candidates. Here's a look at five stocks to watch:

Biopharmaceutical company Greenwich Lifesciences (NASDAQ:GLSI) moves up 16 places to rank sixth and just outside the top five candidates on the leaderboard. Shares are flat over the last month. Data shows 47.1% of the float short and a cost to borrow of 11.4%.

Financial products company CompoSecure (NASDAQ:CMPO) ranked seventh for the week, down one position. Data shows 41.2% of the float short and a cost to borrow of 10.8%.

Financial services company Greenpro Capital Corp (NASDAQ:GRNQ) has one of the biggest moves for the week, jumping up 2,021 positions to rank ninth on the list. Data shows 17.3% of the float short and a cost to borrow of 27.5%.

Streaming company Chicken Soup for the Soul Entertainment (NASDAQ:CSSE) ranked tenth for the week, two weeks after ranking in the top five. Data shows 20.3% of the float short and a cost to borrow of 37.1%.

Outdoor cooking company Weber Inc. (NYSE:WEBR) has been a former stock in the top five and is nearing a return to the top of the leaderboard. The company moved up 31 places to 13th place. Data shows 54.2% of the float short and a cost to borrow of 39.3%.