Short Squeeze Penny Stocks In Focus
Do you want to make money with penny stocks but might be looking for alternative methods to stay ahead of the curve? The “secret” is in the data. Making money in the stock market isn’t as complicated as you might think as long as you know what to look for. In this article, we’ll take a closer look at a handful of stocks with higher short interest.
Why are short-interest stocks so attractive? In specific cases, you’ll see something called a “short squeeze” get triggered. This is where you’ll get significant and quick stock moves that can present unique opportunities for gains.
Stocks like AMC Entertainment (NYSE: AMC) and Bed Bath & Beyond (NASDAQ: BBBY) were notable examples of this in recent weeks. Now the hunt is on for the next big movers. While there aren’t any guarantees that a squeeze will trigger, the first step to finding short-squeeze penny stocks is identifying stocks with higher short interest. Then you can decide if the risk is worth the reward and if they are penny stocks to buy or avoid.
Penny Stocks To Buy (or avoid)
Aravive Inc. (NASDAQ: ARAV)
The last week of trading in Aravive stock has been one of the most active all year. Numerous analyst upgrades and news have helped prompt momentum in the penny stock. Aravive develops targeted therapeutics for treating metastatic disease. Earlier this month, the oncology company entered into definitive agreements with new and existing investors to obtain over $40 million in financing.
Gail McIntyre, Ph.D., DABT, Chief Executive Officer, said, “Together, we will continue to advance batiraxcept towards our pivotal Phase 3 platinum-resistant ovarian cancer readout expected in mid-2023, as well as continued development of batiraxcept in clear cell renal cell cancer and pancreatic adenocarcinoma with the potential for the drug to be a first-in-class oncology agent with an accompanying predictive biomarker.”[READ MORE] Buying Penny Stocks? 3 Analyst Recommendations to Use
Thanks to fresh funding, the outlook on ARAV stock appears bullish. Shares spiked on Monday to new October highs, with some of the most significant daily trading volumes in recent history. Right now, HC Wainwright and Roth Capital analysts have Buy ratings on the penny stock.
As far as short interest, sources, including Fintel.IO, have relatively high levels of short interest on ARAV stock. Fintel, for instance, has this figure sitting around 38.23%. With a focus on short-squeeze stocks, ARAV could be on the watch list for traders early in the week.
Blue Apron Holdings (NYSE: APRN)
Meme stocks like Blue Apron are no strangers to short squeezes. You could see this on any APRN stock chart from earlier in the year. Now that things have settled down, Blue Apron seems to have steadied around the $2-$2.50 range. The company’s recent launch of subscription-free meal kits on Amazon has helped promote some bullish attention on the company.
“Our customers regularly tell us how much they love our meals. By offering a selection of products in the U.S. Amazon store, we are able to provide Amazon customers the opportunity to buy a range of chef-curated meals that will arrive quickly to their door,” said Josh Friedman, Blue Apron’s Chief Product Officer. “Our mutual commitment to exceptional customer service will allow us to continue to deliver a great experience.”
Heading into November, traders are likely to be looking for more news. This week, the company announced plans to release its next round of earnings. If APRN stock is on your list, keep November 7th in mind. The company will report Q3 earnings before the market opens, followed by a business outlook discussion.
Is APRN a short-squeeze penny stock to watch? Look at data from Fintel, and you’ll see a short float percentage of around 38%. But if you look at other outlets, including TDAmeritrade, the APRN short float is much higher at about 65%.
Tattooed Chef (NASDAQ: TTCF)
Beaten down special purpose acquisition companies (SPACs) have been a frequent sight for investors. Tattooed Chef is no different. In late 2020 the company combined with Forum Merger II Corporation (a SPAC), resulting in Tattooed Chef’s public listing. It has been much less of a flavorful experience for investors as TTCF stock officially became a penny stock for the first time in its history earlier this year. Nevertheless, that hasn’t stopped the company from making strides to right the ship.
Some are watching TTCF stock after the company’s latest update. Tattooed Chef announced that it would restate its quarterly and annual financial statements for 2021 and quarterly financial statements for this year’s first and second quarters. Now, speculation is buzzing as to the results of this revision and what it means for the company moving forward.[READ MORE] Penny Stocks & What To Watch In The Stock Market This Week Oct 31-Nov 4
That speculative activity has also sparked attention on the TTCF stock short interest. Fintel data has this figure sitting around 32%. Meanwhile, TDAmeritrade’s short interest for Tattoed Chef is slightly higher at 34.14%.
How To Find Penny Stocks To Buy
In this article, we discussed a few penny stocks with high short interest. While the ultimate decision is up to you, short data can give some insight into the market potential of certain penny stocks. However, there’s no substitute for education, and learning how to trade is more valuable than simply finding the next stock pick from a random social media account.
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