Short term actions: PROG, SAVA and 3 other experts think they are ready to explode
Offspring (NASDAQ:PROGRAM). Biotech innovator Progenity has been a popular member of Fintel 5 all season. Since mid-October, his score has increased slightly from 97.37 to 97.62, indicating that his short potential has increased. This week’s report says short-term gross interest in the stock has risen nearly 800% since the summer of 2021. Although PROG has previously maintained an upward trajectory, it started this week slipping 2.41%. With that in mind, it’s still up over 60% for the past month. Optimism for the stock remains high in the options markets, but as Fintel notes, reluctance appears to be growing among retail investors.
Cassava science (NASDAQ:SAVA). This stock has received considerable coverage in recent weeks as stocks have soared with staggering numbers. Although, like PROG, it started this week in the red, stocks are up 90% for the past week and almost 75% for the last month. The biotech company has made progress with its new drug for the treatment of Alzheimer’s disease. And despite some reports that questioned it, the latest cassava news has been positive. However, it’s not hard to see how these types of numbers would make him a tempting short candidate. Fintel rates it at 92.06 and notes that short-term interest rose 260% during 2021, from 2.6 million shares in February to a high of 9.4 million in October.
The 5 big sporting goods (NASDAQ:BGFV). Big 5 is the first of this week’s Fintel 5 to start the week in the green. Stocks are up nearly 15% for the day, but its peaks of 38% for the week and 52% are larger in this context. Its short-term potential has been chronicled throughout the season, generally classified as either a quick buy or a quick buy stock. With a Fintel score of 91.61, BGFV comes just behind SAVA in this week’s standings. Short-term gross interest is up just under 3% for the month, but has risen 600% since February 2021. The company has seen a significant increase in the costs of borrowing shares, as the ‘indicates the rate of borrowing costs going from 2.22% to 10.25%. .
AerSale (NASDAQ:ASLE). This aircraft components retailer may be on the verge of increased demand for its services as demand for air travel picks up and airline inventories start to soar again. Fintel didn’t have as much to say about ASLE as the other names on this week’s list. The stock’s recent performance has been mixed. Although stocks are up 0.81% today, they are down more than 7% for the week. For the past month, however, ASLE is up more than 28%. Its Fintel score is in line with its ranking, at 90.86 with gross short interest up 110% over the month. As Fintel notes, at the current level, “31.55% of the total free float is bypassed”.
Briacell Therapeutics (NASDAQ:BCTX). This Canada-based biotechnology company doesn’t get much publicity. It had a turbulent day but is expected to end in the green, with stocks up 0.2%. The past month saw a good overall performance, with stocks rising over 23% for the week and almost 42% for the month. With a score of 90.75, it sits just below ASLE on this week’s list after slipping from the previous ones. While short-term gross interest has risen from 2.3 million shares to 1.9 million, it is still up significantly from what it was in the summer of 2021. This name also has the highest cost to borrow shares of any of the short-term stocks this week at 39.9%.
Check back next week for more short-term actions and the upcoming Fintel 5.
At the date of publication, Samuel O’Brient had (directly or indirectly) no position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publication guidelines.