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Dogecoin vs Penny Stocks: 5 Short Squeeze Stocks To Watch NowApr 7th, 2022 10:21 EST
Should you buy dogecoin or penny stocks right now? The discussion has come up in recent weeks as the dog-themed cryptocurrency took a tumble down to lows of $0.11. This is the lowest price that dogecoin has traded at since 2021. While the stock market is down this week, however, some cheap assets are gaining attention, and, yes, penny stocks are among the assets on the list. Today we look at a handful of stocks under $5 that have built up some short interest in the market. Could that mean some explosive volatility to outpace anything dogecoin has seen recently?
Short Squeeze Penny Stocks To Watch
- Trevi Therapeutics Inc. (NASDAQ: TRVI)
- Cazoo Group Ltd. (NYSE: CZOO)
- Hour Loop Inc. (NASDAQ: HOUR)
- Arcadia Biosciences Inc. (NASDAQ: RKDA)
- Knightscope Inc. (NASDAQ: KSCP)
Penny Stocks To Buy Or Avoid?
What are the best penny stocks to buy right now? The ones that make you money, of course. Whether we’re talking about short squeeze stocks, cryptocurrency-related stocks, biotech stocks, or any other type of asset, risk, and reward go hand-in-hand. What separates the best traders from the rest is understanding the market, knowing how to manage risk, and having a proper strategy in place. Penny stocks can be very rewarding if you know what you’re doing. In this article, we look at a few that have amassed larger short positions thanks to bearish bets against them. The biggest question now: will there be a squeeze coming soon?
Short Squeeze Penny Stocks 1. Trevi Therapeutics Inc. (NASDAQ: TRVI)
Trevi Therapeutics is no stranger to big moves. Shares have surged higher this year on the back of big news from February. The biotech company announced results from a Phase 2 Cough And NALbuphine trial investigating its Haduvio treatment candidate. The drug platform is currently targeting patients suffering from chronic cough and is in use for establishing a proof of concept. The company expressed that the results were “extremely encouraging,” which helpead trigger the Q1 breakout.
This week the company announced a funding round of $55 million via private placement. Considering that TRVI stock closed on April 6th at $1.90, the $1.90 offering price seems to have been well-received by the market.
Is TRVI Stock A Short Squeeze Candidate?
According to data from Fintel.IO, the short interest percentage on TRVI stock sits at around 6.3%.
2. Cazoo Group Ltd. (NYSE: CZOO)
European online car retail Cazoo Group is also in focus. Since mid-March, the company’s stock has been rebounding, following a pullback in consumer discretionary stocks last month. With earnings season in full swing, it’s fitting that CZOO stock is on the radar leading into April. The company reported results for Q4 and full-year 2021 this week. Cazoo’s revenue for the quarter grew 227%, while vehicles sold increased 233% year-over-year.
Is CZOO Stock A Short Squeeze Candidate?
Fintel data shows the short float percentage for CZOO stock sitting at 5.62%. Meanwhile, data from Finviz shows that figure to be much higher at around 28%. Needless to say, with solid earnings and revenue growth, it will be interesting to see how the market responds in April.
Short Squeeze Penny Stocks3. Hour Loop Inc. (NASDAQ: HOUR)
Hour Loop is one of the short squeeze penny stocks we discussed this week. The eCommerce company has come into focus as online sales businesses have successfully weathered the recent economic storm. Like Cazoo, Hour Loop also reported earnings recently. Total revenue reached $62.79 million with a net income of $4.78 million.
Is HOUR Stock A Short Squeeze Candidate?
According to Fintel’s data, HOUR’s short float percentage sits at 20.04%. Meanwhile, data from TD Ameritrade puts that figure slightly higher at 23.05%
4. Arcadia Biosciences Inc. (NASDAQ: RKDA)
Should you buy shares of RKDA stock in April? That’s a question some traders have asked after the company’s shares surged last month. Arcadia Biosciences is in the food and agriculture segment of the market. Thanks to mounting sanctions on Russia, the food supply chain has been dramatically impacted, which has brought much more attention to related companies that could benefit from heightened demand and lower supply.
How is Arcadia involved? It’s developing a wide range of health & wellness-focused products, including GoodWheats specialty wheat ingredients, Zola coconut water, Soul Spring bath and body products, Sonova pet food supplements, ProVault natural pain relief formulas, and Saavy Naturals body care products.
A recent PatentScope document was published this month regarding the company’s “Methods of Increasing Fiber In A Wheat Grain.” When sanctions on grain are pushing prices sky-high, global governments are already making moves to adjust.
Is RKDA Stock A Short Squeeze Candidate?
Fintel data shows the short float percentage on RKDA stock at 14.44%. Both TD and Finviz agree on this figure as well. With higher short interest and growing attention on food-related stocks, is RKDA a short squeeze candidate?
5. Knightscope Inc. (NASDAQ: KSCP)
Security stocks have been an active topic of discussion recently, and Knightscope is growing as a popular name among Reddit traders. Shares of the penny stock surged to highs of over $27 in its first week as a public company. Since then, however, the market has tumbled. Needless to say, that doesn’t mean KSCP stock has gone out of focus. This week the company announced a new deployment of its autonomous security robot (ASR) in Charlotte, NC, with an unnamed Fortune 500 company.
Is KSCP Stock A Short Squeeze Candidate?
According to data from Finviz, the short float percentage sits at around 33.1%. What’s interesting, however, is that other outlets, including Fintel.IO, show that figure much lower at less than 1%. Will KSCP stock squeeze or continue treading watch under $5?
Are Penny Stock Worth It?
Short squeeze stocks can experience significant levels of volatility. With that can come the potential for big gains and losses. Learning how to trade stocks, in the first place will help you gain a much-needed edge. If you’re just getting started, here are a few articles to help: