Short Squeeze Target #3: Microchip Technology (MCHP)
Click to Enlarge Another short squeeze candidate from the technology sector is semiconductor companies Microchip Technologies (MCHP). MCHP shares spent the last four months breaking to new all-time highs, which has peaked the interest of bearish short sellers.
The short interest ratio for MCHP sits just above 12, partially as a result of a drop in daily volume. The move above $47 should serve as notice for the shorts to start buying shares to close their losing positions, triggering a short squeeze and helping the stock to potentially move higher.
As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities.