Today, short squeeze stocks are once again in focus for investors.
Indeed, the meme-stock party we’ve seen take full flight at the beginning of the year has waned to some degree. However, investors banking on a continuation of this momentum at some point in the future continue to target companies with high levels of short interest, high borrow-fee rates, low floats and low per-share prices.
Consolidating such companies into a list is difficult. However, looking at the data compiled by Fintel is one way investors have managed to keep their focus on short squeeze stocks.
This week, we’ve got a relatively new list of retail investor favorites to check out. Let’s dive into which stocks are making waves as top short squeeze stocks right now.
Top Short Squeeze Stocks for the Fourth Week of October
According to Fintel’s short squeeze leaderboard, these five stocks top the list right now:
- This week, short squeeze favorite Progenity (NASDAQ:PROG) has moved to the number one spot. This company’s borrow-fee rate has increased dramatically to 77%. Additionally, the company boasts a short interest ratio of 225 at the time of writing.
- Next up, we have Digital Brands Group (NASDAQ:DBGI). This company’s short interest and borrow-fee rates are substantial, at 19% and 35%, respectively. Accordingly, investors seem to like where this direct-to-consumer business could be headed in terms of near-term momentum.
- Protagonist Therapeutics (NASDAQ:PTGX) is a biotech stock packing a punch of late. This stock is moving higher today as investors assess the company’s short squeeze potential. Currently, Protagonist has a borrow-fee rate of 17%, down substantially from levels around 74% seen earlier. However, the company remains a top stock short squeeze enthusiasts are watching.
- Another stock with a lower borrow-fee rate (“only” 13%) that has made the list is Altimeter Growth (NASDAQ:AGC). That’s because this company has the highest short interest ratio, at 35% on the list.
- Finally, we have Paltalk (NASDAQ:PALT). This communications software provider has been a top short squeeze favorite in recent weeks. The company’s borrow-fee rate of 131% is eye-popping and has made it so.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.