Potential short squeeze plays gained steam in 2021, continued through 2022, and remain a focus of new traders looking for the next huge move.
High short interest and 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 this week based on the Fintel short squeeze leaderboard.
Getty Images GETY: Content creator and image marketplace Getty Images tops the short squeeze leaderboard for a second straight week. Data shows 87.7% of the float short, up from last week’s 73.1% reported. The cost to borrow on shares climbs from 94.1% to 107.2% for the week. The stock is no stranger to the list, topping the leaderboard for four straight weeks in February. Since going public via SPAC merger, Getty Images has been a frequent short-squeeze candidate.
China Jo-Jo Drugstores CJJD: The pharmaceutical retailer and distributor moves back into the top five short squeeze candidates. The stock formerly topped the list in the first week of March. Data shows 21.9% of the float short and a cost to borrow of 65.2%.
Related Link: What Is A Short Squeeze?
PaxMedica Inc PXMD: Biopharmaceutical company PaxMedica moves up one position from last week on the leaderboard. Data shows 27.6% of the float short, a sharp rise from last week’s 15.3% reported. The cost to borrow on shares is 416.7%, among the highest of the stocks on the leaderboard and up from last week’s 411.9%.
Kala Pharmaceuticals KALA: Biopharmaceuticals company Kala ranks fourth for the week and has the second-highest cost to borrow of stocks on the leaderboard. Data shows 16.3% of the float short and a cost to borrow of 439.8%. The stock ranked third on the leaderboard in early April before moving out of the top five.
Compass Pathways CMPS: Mental health company Compass Pathways ranks fifth on the leaderboard for a third straight week. Data shows 31.6% of the float short, down from last week’s 33.8% reported. The cost to borrow on shares is 37.8%, down from last week’s 82.1%.
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