Biggest Short Squeeze Stocks Of The Week: Biotech Stocks Dominate, A Bitcoin-Related Stock Moves Up Leaderboard

Author: Chris Katje | November 06, 2023 03:54pm

Potential short squeeze plays gained steam in 2021, continued throughout 2022 and remained a focus of traders looking for the next big move.

High short interest and steep borrowing costs are among the common traits that could lead to a short squeeze.

Here's a look at the top five short squeeze candidates for the week based on the Fintel short squeeze leaderboard.

1. Ambrx Biopharma Inc (NASDAQ:AMAM): The biotech stock topped the short squeeze leaderboard for a second straight week.

Data shows 55.8% of the float is short as of Monday. The cost to borrow on shares is 24.6%.

While both figures were down from last week's report, the stock remained highly volatile and among the most shorted stocks.
2. Aytu Biopharma Inc (NASDAQ:AYTU): The biotech stock jumped into the top five short squeeze candidates for the week.

Data showed 19.8% of the float short and a cost to borrow of 104.6%.
3. Bitcoin Depot Inc (NASDAQ:BTM): The crypto ATM company that offered services for leading coins like Bitcoin (CRYPTO: BTC) continued to rank high among shorted stocks.

The company moved up one position from fourth place to third place.

Data showed 15.2% of the float short and a cost to borrow of 25.1%. Shares of Bitcoin Depot were down 75% year-to-date in 2023.
4. Klaviyo Inc (NYSE:KVYO): The technology and software-as-a-service stock ranked fourth on the short squeeze leaderboard, moving up 92 positions from the prior week.

Data showed 83.3% of the float short, which was the second-highest figure reported by Fintel on the leaderboard. The cost to borrow on shares is 5.6%.

The company went public in September 2023.
5. Safety Shot Inc (NASDAQ:SHOT): The beverage company ranked fifth on this week's short squeeze leaderboard, moving up nine positions.

Data showed 20.7% of the float short and a cost to borrow of 78.4%. Shares of Safety Shot were up 137% year-to-date in 2023.

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