The winds in the stock market are starting to pick up. Investors looking for growth are getting slammed by concerns about rising interest rates. Today, bond yields surged to their highest levels since the onset of the Covid-19 pandemic. Accordingly, stocks are broadly selling off, with certain short squeeze stocks gaining attention right now.
Well, in the absence of “easy wins,” many retail investors and traders are getting creative. By focusing on companies with higher levels of short interest, and the potential to squeeze, eking out those near-term gains the market seems to desperately seek becomes much more realistic.
Now, it should be noted that some of the highest-profile short squeeze stocks such as GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) are underperforming right now. Perhaps investors are simply moving on to other opportunities. Or maybe this short squeeze mania is coming to an end. Time will tell.
However, there are some short squeeze candidates that are outperforming of late. Let’s take a look at Fintel’s top list of short squeeze opportunities for this week.
Top Short Squeeze Stocks for This Week
According to Fintel’s short squeeze leaderboard, these five stocks top the list right now:
- Short squeeze candidate Insignia Systems (NASDAQ:ISIG) once again tops the list this week. This company’s cost to borrow remains extremely elevated at 470%, down from 519% last week. Additionally, Insignia’s float is 58% shorted, an extremely high level for any company.
- Second on Fintel’s list is a new entry, ShiftPixy (NASDAQ:PIXY). ShiftPixy has catapulted onto the list, with a cost to borrow of 111% and a short interest representing more than 27% of the float.
- Next, we have Reliance Global (NASDAQ:RELI). Reported short interest is up more than 9-fold over the past month, to 28% of the total float. Additionally, this company’s cost to borrow shares sits at a whopping 315%.
- Once again making this top five list, American Virtual Cloud Technologies (NADSAQ:AVCT) finds itself in fourth place. This company currently has a cost to borrow of more than 88%, and a short interest ratio just under 20%.
- Finally, we have Microbot Medical (NASDAQ:MBOT). This pre-clinical medical device company has seen short interest soar to 14%, with a cost to borrow of 16.4%.
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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.