A pair days in the past, hedge fund supervisor Will Meade got here up with an attention-grabbing thought. He hopped on Twitter to debate why he thinks ChargePoint (NYSE:CHPT) might be the following GameStop (NYSE:GME). The tweets have many traders sitting up of their seats. As some of the shorted shares, Meade’s case does maintain water. And with retail traders chasing the success of GME by way of shares like AMC (NYSE:AMC), there’s a lot of chatter round which inventory may have the identical squeeze potential because the online game retailer.
We will check out probably the most shorted shares proper now to see some potential short-squeeze candidates. Considered one of these shares is Second Sight Medical Merchandise (NASDAQ:EYES). The attention well being know-how firm has been called overvalued before, after a regulatory approval despatched EYES inventory sky excessive. Now, the corporate is brief curiosity of 49.4%. Whereas short-sellers predict EYES to drop off in worth, Second Sight has some actual followers. And with information that the company has made two promising new additions to its board of directors, sentiment may flip bullish.
One other brief squeeze candidate is Blink Charging (NASDAQ:BLNK). With a 36.9% brief curiosity, many are predicting the corporate’s failure. Nevertheless, it has a devoted backing of retail followers, together with some r/WallStreetBets users. The corporate has really seen some short squeeze activity in the last two days already, offering 13% beneficial properties on Thursday.
Most Shorted Shares: Buyers Seek for Squeeze Candidates
Discovery (NASDAQ:DISCA) is in a unstable state. The corporate was among those caught up in the Archegos Capital Administration fallout. Now, it appears traders are DISCA inventory for a brief squeeze. It presently has 29.67% of its float offered brief, and as a participant within the large streaming business, there’s shopper curiosity in what it provides.
Lastly, Clovis Oncology (NASDAQ:CLVS) is a candidate for a GME-esque brief squeeze. The oncology outfit has made promising information just lately concerning its Rubraca trials. The corporate is hoping to get a product to market quickly to assist deal with late-stage ovarian most cancers sufferers, and its clinical trials are suggesting the launch could be soon. Nonetheless, CLVS inventory is being guess towards, with 33.85% of its float shorted. With the optimistic information concerning the Rubraca checks, in addition to speculation of an acquisition in 2021, the inventory looks as if a main candidate for a brief squeeze.
On the date of publication, Brenden Rearick didn’t have (both immediately or not directly) any positions within the securities talked about on this article.