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Potential short squeeze plays have gained steam in 2021 with new retail traders looking for the next GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC), two stocks that attracted strong interest and saw shares spike.
A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss if they have to buy back the shares they initially borrowed at a higher price.
Fintel Data: Data from Fintel, which requires a subscription, provides a look at some of the top shorted stocks and data that shows how likely a short squeeze is to happen.
Here is a look at Fintel’s top five short squeeze candidates for the week of Oct. 11.
ReShape Lifesciences: Small-cap ReShape Lifesciences (NASDAQ:RSLS) tops the list from Fintel with a score of 96.61. The borrow fee rate on RSLS shares is 66.6%. The company also has 10.2% of its float shorted. Short interest has risen in recent weeks.
The company provides minimally invasive medical devices to treat obesity, including the LAP-BAND.
Reshape Lifesciences has a market cap of less than $50 million and shares under $3, which could make it a favorite of retail traders.
Related Link: 5 Short Squeeze Candidates To Watch: Aterian, Marin On List Again Plus 2 New Small Cap Medical Plays
Cellect Biotechnology: Last week’s number-three short squeeze candidate moves up a position with Cellect Biotechnology Ltd -ADR (NASDAQ:APOP) coming in second place in Fintel’s rankings.
Cellect is a small biotechnology company focusing on regenerative medicines and cell therapies.
The borrow fee on APOP shares is 103.7%, the highest of the top five Fintel short-squeeze candidates. The borrow fee on APOP shares was 102.9% last week. Short interest in APOP remained steady with 30.6% of the float traded short.
Bit Digital: Cryptocurrency miner Bit Digital (NASDAQ:BTBT) rejoins the Fintel top five short squeeze candidate list after not appearing last week.
The company has a borrow fee of 89.9% and sees 18.7% of its float short. Fintel notes that the borrow fee has risen substantially going from 23% at the end of September to nearly 90% for the current week.
Biomerica: Medical company Biomerica, Inc. (NASDAQ:BMRA) falls from first to fourth in this week’s short squeeze candidate list from Fintel. The company has a borrow fee of 12.8% for this week, down significantly from last week’s 46.1 borrow fee.
Short interest for Biomerica was 9.3% of the company’s free float, the lowest of the five stocks topping the Fintel list.
Camber Energy: Oil and gas company Camber Energy Inc (NYSE:CEI) rejoins the Fintel top five list with a score of 93.62. Short interest in the company increased 585% to 24.5 million shares over the last two weeks. The company was in the spotlight recently with a new short report from Kerrisdale Capital.
Over the last month, CEI shares have gone from $1.50 to a high of $4.85. Shares dipped below $1 on news of the new short report.
Image by Raquel Baires from Pixabay
