Singing Machine, SurgePays And 3 More Short Squeeze Stocks That Could Soar This Week – Singing Machine Co (NASDAQ:MICS)

Potential short squeeze plays gained steam in 2021 and have 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.

• Singing Machine Company MICS: The karaoke audio equipment company tops the short squeeze leaderboard for the week. The company is no stranger to the list, appearing in the top five sporadically throughout the last six months, including several weeks at the top. Data from Fintel shows 25.1% of the float short and a cost to borrow of 119.6%.
• SurgePays Inc SURG: The fintech company comes in at second place for a third straight week. Data shows 76.7% of the float short, in line with last week’s figure. The cost to borrow is 7.7%, up from last week’s 6.1%. The stock has been among the top three short-squeeze candidates from Fintel for four straight weeks.
• PaxMedica PXMD: The biopharmaceutical company ranks third for the week, moving up one position from last week’s leaderboard. Data shows 30.3% of the float short, in line with last week’s figure. The cost to borrow on shares IS 396.5%, a figure that is elevated but down from last week’s 400.9%. The cost to borrow for PaxMedica is the highest listed on the short squeeze leaderboard from Fintel for a third straight week.
• Aerovate Therapeutics AVTE: The biopharmaceutical company ranks fourth on the short squeeze leaderboard, moving up one position from last week. Data from Fintel shows 27.3% of the float short, down from last week’s 29.1% reported. The cost to borrow on shares is 7.0%, down slightly from last week’s 7.1%.
• Beam Global BEEM: The electric vehicle charging infrastructure company ranks fifth on the leaderboard, moving up one position. Data shows 21.9% of the float short and a cost to borrow of 26.7%.

Stock to Watch: Outside of the top five short squeeze candidates, one stock soared up the leaderboard and could be worth watching by investors. Digital health company UpHealth UPH ranked ninth for the week. The stock moved up 2,482 places on the leaderboard, making one of the biggest jumps.

Data shows 19.2% of the float short and a cost to borrow of 5.3%.

UpHealth recently completed a 1-for-10 reverse stock split. Stocks that have performed reverse stock splits have been highly volatile in 2022 as it lowers the shares outstanding and in some cases makes the stocks low float names that traders often like to trade.

Related Link: Weber Goes Up In Smoke – What Happened With This Short-Squeeze Favorite?

Benzinga recently introduced the Moneymaker Index, which shares a weekly list of five stocks that are seeing increased interest from investors. Check out the weekly series here.