Short Squeeze Penny Stocks To Buy [or avoid]
Want to catch a short squeeze with penny stocks? Your first step to finding one is identifying stocks with high short interest. You might also want to look at some stocks with lower floats (below 30 million). No matter what, putting together a strong list is the place to begin and today’s article looks at a handful of penny stocks to watch with higher short float percentages. Are they a buy? That’s something I’ll let you decide on once you see the stats and some of the recent catalysts in the market.
Penny Stocks To Watch
| Company | Fintel Short % | TDAmeritrade Short % |
|---|---|---|
| Humacyte, Inc. (NASDAQ: HUMA) | 17.11% | 16.84% |
| Kirkland’s, Inc. (NASDAQ: KIRK) | 25.77% | 22.05% |
| FuboTV Inc. (NYSE: FUBO) | 30.68% | 33.27% |
| Polished.com Inc (NYSEAMERICAN: POL) | 12.54% | 11.31% |
| Tellurian Inc (NYSEAMERICAN: TELL) | 20.58% | 20.18% |
Humacyte, Inc. (NASDAQ: HUMA)
This week Humacyte presents second quarter financial results and will deliver a corporate update. The company is developing implantable, bioengineered human tissue designed to be universal and delivered at a commercial scale. Its human acellular vessels (HAVs) have initial applications for targeting vascular issues, including trauma repair and peripheral arterial disease.
It recently gave an updated presentation of preclinical data from its small-diameter HAV at the American Heart Association Meeting. Humacyte found that when used in coronary artery bypass grafting, the platform demonstrated potential as an alternative to current vascular conduit substitutes during surgery.
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With upcoming earnings, speculation could be building, and short interest may be in focus as it sits around 17% right now.
Kirkland’s, Inc. (NASDAQ: KIRK)
Another beaten-down penny stock that is gaining momentum in the stock market today is Kirkland’s. The company is a specialty home furnishing company with hundreds of stores across the US. New investments from firms like BlackRock, Inc. have helped give attention to KIRK stock a boost in more recent weeks. A new CFO has also come into power amid a recent management shakeup.
With earnings season in full swing, KIRK stock could be in focus as traders speculate on the company’s latest performance. The first quarter saw Kirkland’s miss earnings and sales estimates by a wider margin than hoped for. However, management mentioned that it would continue executing on its test marketing campaigns and use the data to further engage customers. A new deal with Ryder has also opened the door for Kirkland’s to bring in-home delivery online to expand its offering.
Is KIRK a short squeeze penny stock? With the current short float percentage hovering in the low to mid 20% range, it has raised some eyebrows in recent sessions.
FuboTV Inc. (NYSE: FUBO)
Sports entertainment streaming company, FuboTV has pushed the envelope in the stock market recently. The latest round of earnings spiked the stock higher as traders grew hopeful about a turnaround story for the company. Fubo beat on earnings per share but missed on sales estimates, though management remains optimistic on subscriber figures for Q3.
David Gandler, co-founder and CEO of FuboTV, explained, “…We ended the quarter with $378.8 million in cash and achieved a sequential improvement in Operating Cash Flow and AEBITDA compared to the prior quarter. We are pleased to see improvements in our AEBITDA margins as we anticipate a return to growth in the back half of the year, and we remain confident in our path to our positive cash flow and AEBITDA targets in 2025.”
This week FuboT’s platform was launched on the SportsGrid Network, which offers round-the-clock sports wagering. Furthermore, with a short float between 30%-33%, FUBO stock remains on the higher end among names on this list of short squeeze penny stocks.
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Polished.com Inc (NYSEAMERICAN: POL)
Newly public and rebranded, Polished.com Inc. has steadily moved higher since its debut. It was previously known as 1847 Goedeker Inc. under the symbol GOED. Now that it’s gotten a new face, POL stock seems to be one of the names to know this week.
[READ MORE]
The company specializes in multiple branded home goods, furniture, and appliances. Following the rebrand, management seems optimistic about the new direction. Albert Fouerti, CEO of Goedeker, said in a July update that “Operating under a ‘house of brands’ will enable us to drive more value for more customers by providing a personalized appliance shopping experience from initial search through delivery and installation. We believe this rebrand is another major step in our transformational journey toward our goal of increased market share and $1 billion in targeted annual sales.”
With a short float percentage of 11%-12%, according to Fintel and TDAmeritrade, it could be one of the penny stocks to watch with higher short interest this week.
Tellurian Inc (NYSEAMERICAN: TELL)
Liquified natural gas or LNG stocks have been popular lately. Tellurian is one of the names gaining popularity on social media. Shares of TELL stock have climbed nearly 30% over the last week, and energy stocks remain a focus. The company also gained attention from analysts thanks to more robust earnings results. For example, B of A Securities upgraded TELL stock to a Buy from Neutral.
In an August update, President and CEO Octávio Simões said, “While Tellurian continues to add natural gas production and sales revenue, we are also progressing with construction of Driftwood LNG, having cleared the site and begun an extensive pile driving program to set the foundation for the first plant.”
Tellurian also reported a 47% increase in natural gas production for Q2.
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