More Short Squeeze Penny Stocks For Your November Watch List
If you want to make money with penny stocks, learning how to find them and what to look for is a great first step. This article looks at a phenomenon known as a short squeeze. In this scenario, traders will bet against stocks and take out short positions on them to benefit from a potential downside.
Unfortunately for them, they have their trades completely blown up thanks to bullish buying in the market. I don’t mean “blown up” in the literal sense, but figuratively, they get a rude awakening and tend to take a considerable loss at the hands of optimistic traders capitalizing on volatility.
How do you find short-squeeze penny stocks? The first step is looking for companies with higher short float percentages. The names on this list of penny stocks continue the second half of our first article, “Best Penny Stocks To Buy? 3 Short Squeeze Stocks To Watch Now.”
In the end, we’ll give the complete list of 7 penny stocks to watch with higher short interest. Then you can decide if they deserve a spot on your watch list in November.
Pioneer Power (NASDAQ: PPSI)
Alternative energy and EV stocks have been heating up over the last few weeks. Pioneer is a shining example of that. Since mid-October, PPSI stock has rallied from lows of $2.33 to thighs of $3.45 so far. Helping fuel the momentum was an $8 million contract awarded to Pioneer. While not mentioned by name, this order came from one of the “world’s largest” automakers.
Pioneer will supply its flagship E-Bloc electrical solution. CEO of Pioneer, Nathan Mazurek, said in a recent PR, “This particular automaker is aggressively investing in its electric vehicle infrastructure based on the success of its recently introduced EV cars and trucks and the general, robust demand for EVs. Our solutions will provide resiliency, flexibility, and protection for the plant’s power needs by seamlessly integrating multiple power sources. We already expected a significant step-up in revenue in 2023, and this win bolsters that expectation and our confidence going forward.”
Should PPSI be on your list of short-squeeze penny stocks? According to short float data from TDAmeritrade, the short interest for Pioneer sits at around 25.6%.
[Read More] 3 Penny Stocks To Watch If You’re Playing The “Stock Market Game”Tellurian Inc. (NYSEAMERICAN: TELL)
Another energy in focus is liquified natural gas (LNG). Thanks to the global energy price chokehold, especially in Europe, this energy source has gotten a brighter spotlight placed on it. In addition, Chairman Charif Souki has also pushed for further LNG investment, specifically from US sources.
He said at the Energy Intelligence Forum in London, “You have to have the political will…So far, it’s all talk and very little action.” Spending on more U.S. gas infrastructure “is the best way to get gas at cost.”
The most recent point of interest is Tellurian’s production for the third quarter. In an update this week, the company said that it ended Q3 with a 25% bump in net natural gas production. It also increased natural gas sales by 32% during the same period. This data overshadowed the company’s earnings miss for the quarter, and comments from CEO Octávio Simões also resonated with the market. “Tellurian continues to increase our domestic natural gas production by adding to our footprint, having now a total of 22,420 net acres, interests in 131 producing wells located in the Haynesville Shale, and more than 300 drillable locations…The underlying market fundamentals strongly support our strategy of seeking the differential value between domestic and international natural gas prices for our shareholders.”
Is TELL stock high on the short squeeze list? According to data from TDAmeritrade and Fintel.IO, the TELL stock short float is sitting around 19% right now.
Inovio Pharma (NASDAQ: INO)
Thanks to a very active earnings season, financial data is the cause of speculative trading and higher volatility in the stock market this month. Inovio Pharma is on the radar of some traders who await the latest results. Next week the company delivers its third-quarter financials. Most likely, traders will look for any further updates to Inovio’s pipeline
The company recently discontinued its efforts to develop INO-no as a COVID booster vaccine. Based on current demand metrics, management stopped internal funding efforts to develop the candidate. CEO Dr. Jacqueline Shea said late last month, “As we work to bring DNA medicines to the marketplace, we will reallocate resources and focus our efforts on other product candidates in our pipeline, such as INO-3107 and INO-5401, both of which recently reported positive Phase 1/2 data for their respective targeted indications in recurrent respiratory papillomatosis and glioblastoma.”
Plans are to report updates “in the coming months” from ongoing trials targeting cervical high-grade squamous intraepithelial lesions, ebola, Lassa fever, and MERS. Upbeat data from a Phase 1/2 study of INO-3107 helped bring additional momentum to the penny stock. INO-3107 is Inovio’s candidate for HPV-related recurrent respiratory papillomatosis.
Right now, the INO short float percentage sits at 18.56%, according to Fintel’s data.
FuboTV (NYSE: FUBO)
One of the more popular meme stocks recently is FuboTV. The sports entertainment streaming and betting technology company has been a focus for some as Football season kicked off. Much of the excitement that caught the attention of FinTwit, and Reddit members came from Fubo’s investor day. The company laid out its plan to achieve profitability.
[Read More] Using Reddit to Find Penny Stocks to Buy? Use These TipsThe mix of downbeat sentiment for streaming services and the overall market pullback added to the latest sell-off in FUBO stock. Nevertheless, it hasn’t taken the name completely off the list of meme stocks to watch. With its next round of earnings coming at the end of this week, some speculation-fueled volatility has begun coming into the market.
FuboTV recently inked a deal with Gilbert Arenas and Josiah Johnson, who host No Chill with Gilbert Arenas. Pamela Duckworth, head of Fubo Sports Network and originals, FuboTV, stated in an October PR, “The success of No Chill on our linear channel, across social media and as a podcast has become a blueprint for our original programming.”
What about FUBO being on the list of short-squeeze penny stocks? Multiple sources have the short float percentage sitting above 20%. Fintel has the FUBO stock short float at 24.04%. Meanwhile, TDAmeritrade shows the figure slightly higher at 26.32%.
List Of Penny Stocks [high short interest]
- Pioneer Power (NASDAQ: PPSI)
- Tellurian Inc. (NYSEAMERICAN: TELL)
- INOInovio Pharma (NASDAQ: INO)
- FuboTV (NYSE: FUBO)
- Aravive Inc. (NASDAQ: ARAV)
- Blue Apron Holdings (NYSE: APRN)
- Tattooed Chef (NASDAQ: TTCF)
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