Short Squeeze Target #1: Corning (GLW)
The recent increase in short interest — a whopping 79% — surges the company’s short interest ratio to its current reading of 6.8. This is the highest reading of GLW’s short interest ratio since November 2013 (see the chart below), just before the stock saw a covering rally that pushed the shares 12% higher.
Click to Enlarge This tech name is already trading with relative strength against the market as it pushes to new multiyear highs. Our research of GLW stock also shows that it is not unusual for shares to rally ahead of its earnings dates. This means shares might have an additional catalyst soon; the next earnings report is slated for April 23. We’re expecting a short squeeze to help push GLW stock another 10% to 15% higher over the next month or two.