Short squeeze stocks are once again in focus today after the fifth straight week of market declines. As recession rumors swirl, let’s take a look at the short squeeze candidates receiving extra attention from investors lately.
As the bears continue to wreak havoc on an uncertain economy, shorting stocks has become all the more appealing to some investors. Indeed, the S&P 500, Dow 30 and Nasdaq Composite have all been slumping lately, with no clear reversal in sight.
Last Wednesday, the Federal Reserve hiked interest rates by 50 basis points, the biggest increase in 22 years. At the time the news came as something of a bullish indicator, and the markets saw a broad upswing on the day of the announcement. This is likely because of comments from Fed Chairman Jerome Powell, who assured investors the committee wasn’t actively considering a more substantial hike. Unfortunately, the gains were short lived, nearly wiped by the next trading day. As such, it makes sense to see some analysts bet on continued market losses.
With all that in mind, let’s take a look at Fintel’s updated Short Squeeze Leaderboard.
Top Short Squeeze Stocks This Week
First up this week is Redbox Entertainment (NASDAQ:RDBX). The company has a short interest comprising 61.55% of its float with a hefty cost to borrow shares of 597%.
Next is Medavail Holdings (NASDAQ:MDVL), a company that has seen a resurgence of short interest lately. Indeed, the company saw a 500% increase in raw short interest in the past month, comprising 21.86% of the company’s total float. The company has a cost to borrow shares of 98%.
Third on the list is a short squeeze favorite, Harbor Custom Development (NASDAQ:HCDI). The company’s short interest comprises 23.88% of its total float, with a borrow fee rate of 107.34%.
The next stock on the list is Lixte Biotechnology (NASDAQ:LIXT). The company’s raw short interest has increased 11,000% from last month, comprising 23.66% of its total float. However, its borrow fee rate is actually down slightly from last week, at 88.71% compared to its previous 94.68%.
Rounding out this week’s list is Camping World Holdings (NYSE:CWH), after jumping 21 slots on the leaderboard. The company has a raw short interest comprising 46.8% of its float, with a cost to borrow shares of 20.76%.
On the date of publication, Shrey Dua 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.
