Connect with us

Best Penny Stocks To Buy Now? 10 Short Squeeze Stocks To Watch

Looking for potential short squeeze penny stocks? Start by looking at short interest
The post Best Penny Stocks To Buy Now? 10 Short Squeeze Stocks To Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Published

2 years ago

on

5 More Penny Stocks To Watch With High Short Interest

There are plenty of trends to follow in the stock market, especially when it comes to penny stocks. We’ve seen industry themes like DeFi, NFTs, and digital currency grow in popularity this quarter.

We’ve also seen broader trends in things like tech, energy, and materials gain the focus of retail traders. However, a more constant and higher volatility trade idea in 2021 is centered around short squeezes. Think back to the beginning of the year and companies like AMC Entertainment, GameStop, and many others set the tone for this trend’s staying power.

Now, heading into the end of the year, many remain focused on finding the next round of short squeeze stocks to buy. This article will look at a handful of names that have higher levels of short interest. From there, you can decide if they’re suitable for your watch list right now. This is a continuation of the first 5 penny stocks with high short interest. To see those, check out our article Penny Stocks To Buy For A Short Squeeze? 5 To Watch Now.

Short Squeeze Penny Stocks To Watch

NuZee Inc. (NASDAQ: NUZE)

A few weeks ago, we started discussing NuZee Inc. on our list of “cheap stocks to watch” during the fourth quarter. While it isn’t part of the hottest of industries in the stock market today, it has garnered some individual interest thanks to specific corporate developments this quarter.

Nuzee is a co-packing company for single-serve coffee and produces bags for Cuvée Coffee. Interestingly enough, Cuvée announced an expansion deal into over 3,000 Walmart stores nationwide in November. This helped act as a catalyst for a more significant move over the last month, with NUZE stock rising from roughly $2 to highs of over $7. Following some profit-taking at the end of November, the penny stock has made a more substantial rebound this month.

With a short float percentage of around 11.20%, according to Fintel, NUZE isn’t a stock with the highest short position. However, similar to a few other names on this list, since it has a relatively lower float, that could also play a part in volatile swings that’ve been seen recently.

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI)

Shares of Spectrum Pharmaceuticals continued higher during the second half of this week. We’ve followed several developments with this biotech company concerning its pipeline of treatment candidates. Specifically, Spectrum has worked on advancing its poziotinib for treating locally advanced or metastatic non-small cell lung cancer. The company’s other platform, ROLONTIS, is in development and heading down the path for submitting a Biologics License Application for patients with non-myeloid malignancies.

– Best Penny Stocks to Buy Today? 3 to Watch in Mid-December

The recent uptick in excitement stems from news that Spectrum officially submitted its New Drug Application for poziotinib. This week, Spectrum announced that the new NDA submission was based on its favorable results from Cohort 2 of its ZENITH20 trial.

“The NDA submission for poziotinib marks an important step in achieving a first treatment for patients with HER2 exon 20 insertion mutations in lung cancer.”

Joe Turgeon, President and CEO of Spectrum Pharmaceuticals

While we wait for more details on the timing of any potential submission approval, some traders are also looking at additional aspects of SPPI stock. In particular, the short interest, which, as of today, according to Fintel, sits around 11.52%.

short squeeze penny stocks to buy Spectrum Pharmaceuticals Inc. SPPI stock chart

Invacare Corp. (NYSE: IVC)

Invacare is another one of the penny stocks that has come under pressure this year. Believe it or not, the penny stock was trading above $6 for most of this year. Its initial cracks began showing in September following its Q3 business update. In particular, the company cut guidance. Obviously, as a company that manufactures and distributes medical devices, the pandemic has wreaked havoc on supply chains. Invacare was not immune to this, which sparked the revision in guidance. Throw in a few price target cuts from analysts and a warning letter from the FDA earlier this month, and you’ve got an interesting situation.

Regarding the warning letter, the FDA warned against procedures that involved complaint handling, corrective and preventive action, and medical device reporting associated with oxygen concentrators. In a filing from Invacare, the company said it plans to respond in a timely fashion and work to address these concerns.

So, where does this leave IVC stock right now? If you look at the stock’s chart, you’ll see that the last few sessions have been bullish. Shares have climbed from under $2.20 to over $2.80 on October 9. Meanwhile, Fintel data shows that IVC’s short float percentage sits around 28.7% right now.

short squeeze penny stocks to buy Invacare Corp. IVC stock chart

Bluejay Diagnostics Inc. (NASDAQ: BJDX)

Another medical device company on this list of penny stocks is Bluejay Diagnostics. Its Symphony System is designed as a more cost-effective near-patient platform for triage, disease progression monitoring, and diagnosis in hospitals and long-term acute care facilities. Symphony is designed to provide results in less than 30 minutes to help provide better and earlier triage or treatment decisions. Currently, the platform is for IL-6 for Sepsis Triage.

Since its IPO, the penny stock has struggled to reclaim its November high of $6.25. However, that hasn’t discounted that BJDX stock has been more active during the last few sessions. There haven’t been any headlines to pair with the move. However, there has been some attention on the current short position on BJDX.

According to Fintel’s data, the short float percentage sits around 11% (10.97) as of this article. While this isn’t as large as some other short figures, the total outstanding share count for BJDX stock is less than 20 million shares. That could suggest that BJDX is also one of the low float penny stocks to watch.

– 5 Penny Stocks To Buy According To Analysts & Targets Up To 341%

short squeeze penny stocks to buy Bluejay Diagnostics BJDX stock chart

Bit Brother Ltd. (NASDAQ: BTB)

Like a few of the others on this list of penny stocks, Bit Brother came under pressure over the last few weeks. It’s important to mention this because there’s a reason why traders short stocks in the first place; they want to bet against them and take advantage of any downside should they be correct in their trade idea. In this case, BTB stock has dropped from highs of $3 in November to lows of $0.51 this week.

Part of this drop was credited to the company’s $24.3 million financing round. Why would raising money be a bad thing in the eyes of investors? Based on the price that Bit Brother issued the new shares at ($0.875), this was a steep discount to the market price when the details came to light. As a “bigger picture” view from the market, BTB has come into the fold of crypto stocks. Though there haven’t been many headlines from the company, it has made mention of involvement within this arena.

Earlier this year, Bit Brother announced an LOI to acquire the controlling interest of Angelo’s Pizza. The company mentioned expanding its reach into international markets with a cryptocurrency angle via Bitcoin payment methods. Besides interest around crypto, BTB stock has been on a list of penny stocks to watch with higher short interest. According to Fintel data, the short float percentage currently sits around 12.5%.

short squeeze penny stocks to buy Bit Brother Ltd. BTB stock chart

Short Squeeze Penny Stocks

It’s important to remember that penny stocks with higher short interest have it for a reason. It usually involves a big bet against the company itself. Regardless, when these stocks “squeeze,” the volatility in the market is like none other. Just look at AMC as an example. Not all penny stocks with high short interest follow this trend. However, it doesn’t hurt to know both the fundamental and technical aspects of certain stocks to decide if or how you plan to trade them.

10 Short Squeeze Penny Stocks To Watch

This is a continuation of the first 5 penny stocks with high short interest. To see those, check out our article Penny Stocks To Buy For A Short Squeeze? 5 To Watch Now. Here’s the full list as well:

  1. PetVivo Holdings (NASDAQ: PETV)
  2. Petros Pharmaceuticals (NASDAQ: PTPI)
  3. Opko Health (NASDAQ: OPK)
  4. Ring Energy (NYSE: REI)
  5. Beyondspring Inc. (NASDAQ: BYSI)
  6. NuZee Inc. (NASDAQ: NUZE)
  7. Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI)
  8. Invacare Corp. (NYSE: IVC)
  9. Bluejay Diagnostics Inc. (NASDAQ: BJDX)
  10. Bit Brother Ltd. (NASDAQ: BTB)

The post Best Penny Stocks To Buy Now? 10 Short Squeeze Stocks To Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Read More

Related Topics:
Continue Reading

Government

Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

Published

53 mins ago

on

March 9, 2024

By

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

“When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

“It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

Read More

Continue Reading

Uncategorized

February Employment Situation

By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…

Published

2 hours ago

on

March 9, 2024

By

By Paul Gomme and Peter Rupert

The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.

Temporary help services employment continues a steep decline after a sharp post-pandemic rise.

Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.

The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.

The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.

Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.

As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.

Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.

The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.

Read More

Continue Reading

Spread & Containment

Another beloved brewery files Chapter 11 bankruptcy

The beer industry has been devastated by covid, changing tastes, and maybe fallout from the Bud Light scandal.

Published

2 hours ago

on

March 9, 2024

By

Before the covid pandemic, craft beer was having a moment. Most cities had multiple breweries and taprooms with some having so many that people put together the brewery version of a pub crawl.

It was a period where beer snobbery ruled the day and it was not uncommon to hear bar patrons discuss the makeup of the beer the beer they were drinking. This boom period always seemed destined for failure, or at least a retraction as many markets seemed to have more craft breweries than they could support.

Related: Fast-food chain closes more stores after Chapter 11 bankruptcy

The pandemic, however, hastened that downfall. Many of these local and regional craft breweries counted on in-person sales to drive their business. 

And while many had local and regional distribution, selling through a third party comes with much lower margins. Direct sales drove their business and the pandemic forced many breweries to shut down their taprooms during the period where social distancing rules were in effect.

During those months the breweries still had rent and employees to pay while little money was coming in. That led to a number of popular beermakers including San Francisco's nationally-known Anchor Brewing as well as many regional favorites including Chicago’s Metropolitan Brewing, New Jersey’s Flying Fish, Denver’s Joyride Brewing, Tampa’s Zydeco Brew Werks, and Cleveland’s Terrestrial Brewing filing bankruptcy.

Some of these brands hope to survive, but others, including Anchor Brewing, fell into Chapter 7 liquidation. Now, another domino has fallen as a popular regional brewery has filed for Chapter 11 bankruptcy protection.

Overall beer sales have fallen.

Image source: Shutterstock

Covid is not the only reason for brewery bankruptcies

While covid deserves some of the blame for brewery failures, it's not the only reason why so many have filed for bankruptcy protection. Overall beer sales have fallen driven by younger people embracing non-alcoholic cocktails, and the rise in popularity of non-beer alcoholic offerings,

Beer sales have fallen to their lowest levels since 1999 and some industry analysts

"Sales declined by more than 5% in the first nine months of the year, dragged down not only by the backlash and boycotts against Anheuser-Busch-owned Bud Light but the changing habits of younger drinkers," according to data from Beer Marketer’s Insights published by the New York Post.

Bud Light parent Anheuser Busch InBev (BUD) faced massive boycotts after it partnered with transgender social media influencer Dylan Mulvaney. It was a very small partnership but it led to a right-wing backlash spurred on by Kid Rock, who posted a video on social media where he chastised the company before shooting up cases of Bud Light with an automatic weapon.

Another brewery files Chapter 11 bankruptcy

Gizmo Brew Works, which does business under the name Roth Brewing Company LLC, filed for Chapter 11 bankruptcy protection on March 8. In its filing, the company checked the box that indicates that its debts are less than $7.5 million and it chooses to proceed under Subchapter V of Chapter 11. 

"Both small business and subchapter V cases are treated differently than a traditional chapter 11 case primarily due to accelerated deadlines and the speed with which the plan is confirmed," USCourts.gov explained. 

Roth Brewing/Gizmo Brew Works shared that it has 50-99 creditors and assets $100,000 and $500,000. The filing noted that the company does expect to have funds available for unsecured creditors. 

The popular brewery operates three taprooms and sells its beer to go at those locations.

"Join us at Gizmo Brew Works Craft Brewery and Taprooms located in Raleigh, Durham, and Chapel Hill, North Carolina. Find us for entertainment, live music, food trucks, beer specials, and most importantly, great-tasting craft beer by Gizmo Brew Works," the company shared on its website.

The company estimates that it has between $1 and $10 million in liabilities (a broad range as the bankruptcy form does not provide a space to be more specific).

Gizmo Brew Works/Roth Brewing did not share a reorganization or funding plan in its bankruptcy filing. An email request for comment sent through the company's contact page was not immediately returned.

 

Read More

Continue Reading

Trending