On to the next one
This has been the summer of short squeezes. Here are 3 more candidates to add to your radar. They are Akorn (AKRX), The Fresh Market, Inc. (TFM) and Terex Corp (TEX).
Akorn (AKRX) Short Float: 17%
Akorn has a sweet looking chart, having risen 130% in the last year. That's why the bears think it's time for a rest. Maybe it does need a rest, but one thing is for sure - Akorn has momentum, and the the growth to back it up. Look for shares to break $20 if the Bio-tech freight train keeps rolling.
Over the past 12 months Akorn Inc (AKRX) shares have traded between $6.63 and its 52-week high of $16.7. Akorn Inc shares are now trading with a P/E Ratio of 36.4 and EPS of 0.43.
The Fresh Market, Inc. (TFM) Short Float: 21%
The Fresh Market is Whole Foods (WFM) red-headed step child. Whole Foods needs some healthy competition, and TFM is up to the challenge. The East-Coast company is about to take California by storm with plans for growth. It expects to open its first store in the state either late this year or early 2013.
This is a great stock because it has short term and long term hold potential. If you haven't noticed, health food stocks such as WFM, TFM, GNC, even JMBA have been on a tear lately.
Unfortunately, it is trading at the middle of its ascending channel - we think shares will trade up to $60 by the end of the month, but watch out if price falls beneath the 50 day moving average, currently at $52.17.
Over the past 12 months Fresh Market Inc (TFM) shares have traded between $30.86 and its 52-week high of $59.1. Fresh Market Inc shares are now trading with a P/E Ratio of 46.9 and EPS of 1.19.
Terex Corp (TEX) Short Float: 15%
Not much to say about Terex Corp - they make Farming Equipment. Not very sexy. However, it gets the job done during a short squeeze.
Over the past 12 months Terex Corp (TEX) shares have traded between $9.3 and its 52-week high of $28.37. Terex Corp shares are now trading with a P/E Ratio of 36.8 and EPS of 0.5.
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