3 Short Squeeze Stocks
Mastery has you covered for the next leg up.If the indices breaks out to more multi-year highs like we think they are going to, these 3 high-interest short stocks should see a squeeze.
They are AK Steel (AKS), Pandora Radio (P), and InnerWorkings (INWK).
AK Steel (AKS) Short Interest: 30%
Let's face it, basic materials stocks such as AKS were a great short this year. The Dow Jones Global Basic Materials Total Stock Market Index(DWGBS) is down 15% in the last 6 months. However, it's up 5% in the last month and it just broke the 3,000 level.
Our thesis is with basic materials on the rise, AKS will rise with them. Couple that with the fact that AKS has 30% short interest and you have the recipe for big gains. Shares could see resistance around $7 and I'd place my stops below support at around $5.45.
Over the past 12 months AK Steel Holding Corp (AKS) shares have traded between $4.44 and its 52-week high of $10.33. AK Steel Holding Corp shares are now trading with a P/E Ratio of 0 and EPS of -8.48.
Pandora Radio (P) Short Interest: 16%
Pandora (P) reports earnings on August 29th. If history is any indicator, there will be some short covering before their earnings call. Look to get in and out for a quick trade but we don't recommend holding Pandora through earnings - you could get Groupon'd. Look to book a quick gain up to $11 and place your stops just below $9.
Over the past 12 months Pandora Media Inc (P) shares have traded between $7.83 and its 52-week high of $15.98. Pandora Media Inc shares are now trading with a P/E Ratio of 0 and EPS of -0.21.
InnerWorkings (INWK) Short Interest: 18%
Great looking chart, just now bouncing off the support at the bottom of its channel. Look for shares to trade north of $15 and place your stops below $12.
Over the past 12 months Innerworkings Inc (INWK) shares have traded between $6.66 and its 52-week high of $13.95. Innerworkings Inc shares are now trading with a P/E Ratio of 34.5 and EPS of 0.37.
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