The incredible surge in meme stocks we saw at the beginning of last year may not be over quite yet. Today, a range of short squeeze stocks are seeing interest flood in as investors look for pockets of the market that can provide meaningful near-term upside.
This view certainly makes sense, considering the overall direction of the market lately. However, how investors choose to curate their lists of short squeeze stocks may differ.
There are social media sources, which are always a good place to start. There’s data on short interest and borrow fee rates. And then there’s Fintel, a site which curates a list of top five short squeeze opportunities each and every week.
This week’s list is a doozy, featuring some prominent names. That’s certainly a departure from the low-float, small-cap stocks Fintel typically lists.
Let’s dive into the top potential opportunities for short squeeze investors in the market right now.
Top Short Squeeze Stocks
Redbox (NASDAQ:RDBX) takes first place on this week’s list. The movie rental and streaming company has been beaten up lately. Much of that has to do with its short interest, which is now around 180% of the float. That short interest is extremely high, along with a staggering cost to borrow of nearly 720%. Accordingly, investors now have real reason to own RDBX stock for its higher-than-average squeeze potential.
Taking the second spot on this list is Better Therapeutics (NASDAQ:BTTX). The company’s impressive short interest of over 22% and 130%-plus borrow fee rate earns BTTX a top slot.
EOS Energy (NASDAQ:EOSE) ranks third this week. The battery storage solutions company is a de-SPAC player that has lost its luster. Like other names on the ranking, EOG stock’s short interest and borrow fee rates are in the nosebleeds. They are 29.7% and 23.9%, respectively.
A maker of three-wheeled electric vehicles (EVs), Arcimoto’s (NASDAQ:FUV) price action has looked funnier than many of its utility vehicles recently. Short interest of nearly 40% and a cost to borrow just above 65% have hit FUV stock hard.
Finally, no short squeeze list would be complete without GameStop (NYSE:GME). Interestingly, not many lists have featured GME lately due to declining short interest since its previous squeeze. That said, short sellers are back at it again. Selling 23.8% of float short at a 50% borrow fee rate, many investors may see an opportunity to jump on shares.
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On the date of publication, Chris MacDonald did not hold (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.