Pineapple Energy, Top Ships And 3 More Short Squeeze Stocks That Could Soar This Week

Potential short squeeze plays gained steam in 2021 and has continued through 2022 with new traders looking for the next huge move.

High short interest and a high cost to borrow are among the common traits that could lead to a short squeeze. Here’s a look at the top five short squeeze candidates based on the Fintel short squeeze leaderboard.

Pineapple Energy: Clean energy company Pineapple Energy (NASDAQ: PEGY) tops the short squeeze leaderboard for the week. Data shows 33.6% of the float short and a cost to borrow of 162%. The company went public via SPAC merger and recently reported quarterly financial results. Pineapple Energy offers solar energy, back-up power and clean energy solutions with Hawaii its primary market.

Singing Machine: Karaoke equipment company Singing Machine Co (NASDAQ: MICS) returns to the short squeeze leaderboard, moving up seven places to rank second for the week. Data shows 24.7% of the float short and a cost to borrow of 115.7%. The company previously topped the short squeeze leaderboard in both July and August.

Related Link: Betting Against Bitcoin And Michael Saylor, Could MicroStrategy See A Short Squeeze? 

Hour Loop: Ecommerce company Hour Loop Inc (NASDAQ: HOUR) ranks third on the short squeeze leaderboard for the week, moving up 18 places for the biggest jump of the top five stocks. Data shows 14% of the float short and a cost to borrow of 59.5%. The stock last ranked on the short squeeze leaderboard in August with several weeks ranked in fifth place.

MicroStrategy: Software company and Bitcoin (CRYPTO: BTC) holder MicroStrategy Inc (NASDAQ: MSTR) ranks fourth on the week, down one position from last week’s report. Data shows 34.4% of the float short, down from last week’s 35.8%. The cost to borrow on shares is 27.7%, down from last week’s 29.4%. The stock moved up 12 positions to enter the top five short-squeeze candidates previously. The company is a popular short candidate for investors who believe the price of Bitcoin will go down, as the company is one of the public companies exposed the most to the volatility of cryptocurrency.

TOP Ships: Fuel tanker company TOP Ships (NASDAQ: TOPS) ranks fifth on the leaderboard with 13.8% of the float short and a cost to borrow of 166.8%. The company’s cost to borrow is one of the highest for the week, which could see the stock continuing to move up the leaderboard. Shares of the oil-related company trade at $4.71 and are down 83% in the last year. Shares have traded between $2.10 and $32.80 over the last 52 weeks.

Read Next: Michael Saylor Told Benzinga This About Bitcoin