Could a Short Squeeze Be Coming for These 3 Heavily Shorted Stocks?
Wall Street traders have numerous (and often creative) strategies to speculate on stocks and their up and down price movements. There are times when the prices of stocks are influenced more by what these traders do rather than by the company's business operations. One popular strategy favored by the market bears involves selling a stock "short."
Short sellers can have a big impact on a stock's valuation. When there's a lack of bullishness around a stock, high short interest can send a company's shares into an endless tailspin. Three stocks with high short interest right now are Novavax (NASDAQ: NVAX), Beyond Meat (NASDAQ: BYND), and Upstart (NASDAQ: UPST). Each of these stocks trades down at least 85% from their 2022 prices.
Another market strategy can push a stock price higher exponentially through a coordinated effort that "squeezes" the short sellers. Can any of these three stocks prove their doubters wrong, and potentially become short-squeeze candidates in the near future? Let's see.
Source Fool.com
Novavax Inc. Stock
Based on 3 Buy predictions and 2 Sell predictions the sentiment towards Novavax Inc. is rather balanced.
With a target price of 12 € there is potential for a 215.08% increase which would mean more than doubling the current price of 3.81 € for Novavax Inc..
