Potential short squeeze plays gained steam in 2021, continued throughout 2022, and remain a focus of new 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. Asset Entities ASST tops the leaderboard for the week. Data shows 25.2% of the float short and a cost to borrow of 393.5%. The company moves up 392 positions, making one of the biggest moves into the top five candidates in months. Asset Entities provides social media marketing and content delivery services for Discord, TikTok and other platforms. The company recently launched an AI Bot for Discord.
2. Intuitive Machines LUNR moves down one position from the top of the leaderboard to rank second for the week. Data shows 25.0% of the float short, up from last week’s 22.5% reported. The cost to borrow on shares is 284.0%, down from last week’s 343.8%.
3. Hub Cyber Security HUBC jumps five positions to rank third for the week. Data shows 36.2% of the float short, down from last week’s 38.7% reported. The cost to borrow on shares is 180.6%, up from last week’s 156.8%. The stock was profiled as a one to monitor in last week’s short-squeeze stocks to watch.
Related Link: Why MoonLake Immunotherapeutics Stock Is Shooting Higher
4. MoonLake Immunotherapeutics MLTX moves up 17 positions to rank fourth for the week. Data shows 85.4% of the float short and a cost to borrow of 13.6%. Shares of the clinical-stage biotech rocketed higher last week after the company reported topline results from its Phase 2 MIRA trial for its nanobody sonelokimab. MoonLake has been a frequent name in the short squeeze leaderboard over the last year.
5. Toro Corp TORO moves up five positions to rank fifth for the week. Data shows 46.7% of the float short and a cost to borrow of 27.8%. The stock previously topped the short squeeze leaderboard for several weeks in May.
Stocks to Watch: Outside the top five short squeeze candidates, several other names are making big moves, including:
Sientra Inc SIEN ranks seventh for the week, moving up five positions. Data shows 20.6% of the float short and a cost to borrow of 61.3%.
Bullfrog AI Holdings BFRG moves up 12 positions to rank 11th for the week. Data shows 20.1% off the float short and a cost to borrow of 486.3%.
GuardForce AI GFAI moves up 11 positions to rank 15th for the week. Data shows 18.0% of the float short and a cost to borrow of 142.5%.
Torrid Holdings CURV moves up 58 positions to rank 17th for the week. Data shows 13.5% of the float short and a cost to borrow of 8.9%.
Genius Group GNS ranks 19th for the week, moving up 42 positions. Data shows 12.9% of the float short and a cost to borrow of 97.2%.
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