Investors often look for stocks with high short interest and a high cost to borrow, which could predict a potential short squeeze. New data shared by S3 Partners could signal which stocks investors are betting heavily against.
What Happened: New data was shared by S3 Partners Managing Director Ihor Dusaniwsky on Twitter. Dusaniwsky shared data on many individual stocks, including Coinbase Global Inc (NASDAQ:COIN) along with several top ten lists.
According to data from S3, the top ten shorted stocks by percent of float are:
- Carvana Co (NYSE:CVNA): 47.5%
- Bed Bath & Beyond (NASDAQ:BBBY): 44.2%
- Marathon Digital (NASDAQ:MARA): 42.0%
- Beyond Meat (NASDAQ:BYND): 40.4%
- Silvergate Capital Corp (NYSE:SI): 39.3%
- Fisker Inc (NYSE:FSR): 36.8%
- MicroStrategy Inc (NASDAQ:MSTR): 36.7%
- Allogene Therapeutics (NASDAQ:ALLO): 36.0%
- Upstart Holdings (NASDAQ:UPST): 36.0%
- Vertex Energy (NASDAQ:VTNR): 35.3%
The top ten stocks by cost to borrow are:
- Meta Materials (NASDAQ:MMAT): 117.1%
- Beyond Meat: 97.8%
- MicroStrategy: 54.6%
- Digital World Acquisition Corp (NASDAQ:DWAC): 49.6%
- Nikola Corp (NASDAQ:NKLA): 33.1%
- Canoo Inc (NASDAQ:GOEV): 29.1%
- Blink Charging (NASDAQ:BLNK): 25.6%
- Upstart Holdings: 24.3%
- Fisker: 22.1%
- AMC Entertainment Holdings (NYSE:AMC): 21.8%
Related Link: Weber Goes Up In Smoke With Buyout: Here's What Happened With This Short Squeeze Favorite
Stocks to Watch: Dusaniwsky shared that large cap companies Apple Inc (NASDAQ:AAPL) and Tesla Inc (NASDAQ:TSLA) are the top two shorted companies by dollars at $18.1 billion and $12.4 billion respectively.
While this is a large amount, it’s also a low percentage of the companies' massive floats.
Taking a look at the two lists above, readers can see that Beyond Meat, MicroStrategy, Upstart and Fisker appear on both lists, suggesting they could be key short squeeze candidates.
Beyond Meat has seen shares fall with inflation fears hitting the company as meat alternatives are often priced higher than traditional meat products. MicroStrategy is a holder of Bitcoin (CRYPTO: BTC) and has seen shares fall and short interest rise as investors bet against the leading cryptocurrency.
Benzinga publishes a short squeeze ideas list every week using data from Fintel.
Benzinga also recently introduced its Moneymaker Index, which provides five stocks seeing increased interest from investors.
Read Next: The 10 Most Shorted ETFs: Which Sectors Saw Short Interest Increase
Photo: Courtesy of Shutterstock.
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